PV developer Greenskies Renewable Energy has closed on a US$165 million deal with multi-state bank First Niagara Financial Group and a tax equity provider in order to finance 127 PV projects across 12 US states.
The firm will use the financing to design and construct the projects, that will generate 85GWh of electricity per year to power the equivalent of 13,000 New England households.
The projects will be built for a range of commercial and municipal customers, said Michael Silvestrini, Greenskies' president and co-founder.
The new deal represents the sixth round of financing Greenskies has completed with First Niagara since 2012.
Peter Thomas, vice president and senior relationship manager at First Niagara Financial Group, said: “First Niagara is pleased to continue developing its relationship with Greenskies, a solar industry leader both in Connecticut and across the region.
“This particular financing vehicle allows the company to leverage additional capital and accelerate the distribution of green renewable energy throughout not only New England, but the entire nation.”