Energy investment platform CleanCapital has secured a US$200 million credit facility to support its pipeline of distributed solar and energy storage projects.
This will facilitate the expansion of CleanCapital’s initial anchor portfolio of solar assets which currently comprises of 35 solar assets across 11 US states and with a total capacity of 29MW.
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The facility will be able to accommodate different types of offtakes including utility offtake, commercial & industrial power purchase agreements (PPAs), net metering and community solar.
Dutch bank Rabobank will act as the lead arranger, administrative and collateral agent with the facility growing over time.
Melinda Baglio, chief investment officer at CleanCapital, said: “This facility will enable us to be even more responsive to market opportunities, further cementing CleanCapital’s reputation as a leader in deploying capital into this segment.”