CIT finances approximately US$200 million for 76MW PV portfolio

Facebook
Twitter
LinkedIn
Reddit
Email
CIT’s financing was arranged on behalf of Clearway Energy Group, one of the largest developers and operators of clean energy generation facilities in the US. Image: Martin Abegglen / Flickr

CIT Group’s Power and Energy unit has arranged approximately US$200 million in financing for a 76MW portfolio of community solar projects located across four US states.

CIT’s financing was arranged on behalf of Clearway Energy Group, one of the largest developers and operators of clean energy generation facilities in the US. In total, the 76MW community-solar pipeline is comprised of 21 individual projects, located in Illinois, Massachusetts, Minnesota and New York.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Steve Ryder, chief financial officer at Clearway Energy Group, said: “Community solar projects are key contributors to the growth of clean energy generation in the US. We appreciated CIT's expertise in financing this important milestone in our community solar business.”

Mike Lorusso, managing director and group head for CIT’s Power and Energy business, added: “Empowering customers with the financing needed to reach their goals is core to CIT. This is the latest of several financings we have helped arrange for Clearway Energy Group and we are excited to work with them again to help advance the steady progress of solar power generation.”

Clearway has been active over the past year. Back in September 2019, the company completed construction and brought online three grid-scale solar power projects on the island of O‘ahu in Hawaii. 

These three projects, which will help contribute to Hawaii’s goal of achieving 100% renewable energy by 2045, will contribute approximately 3% to Hawaiian Electric’s renewable portfolio standards (RPS) goal, which reached 27% by the end of 2018.

In April 2019, Clearway sold off the 150MW North Rosamond solar project in Kern County, California to Duke Energy Renewables. 

21 May 2024
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 21-22 May 2024, will be our third PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2025 and beyond.
8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
March 19, 2024
Texas, USA
Solar Media Events
March 26, 2024
Lisbon, Portugal
Solar Media Events
April 10, 2024
Dallas, Texas USA