The US domestic installer has clinched a US$95 million revolving asset-based loan facility and a private placement of US$55 million aggregate principal amount of convertible senior notes.
Multinational utility Iberdrola has completed the giant 500MW Núñez de Balboa solar farm in Spain’s Extremadura region, claiming it to be Europe’s largest completed solar project.
The US installer will use the funding to refinance a working capital facility and purchase equipment that will qualify its projects for the full ITC rate before it depreciates to 26% on 1 January.
The completed project for Jentec Storage is the latest in a flurry of C&I activity by Total's solar distributed generation arm in the region, including a contract to supply rooftop PV to an airport that will cater to Indonesia's future capital Borneo.