The funds will support project development, the procurement of equipment such as solar modules and inverters, and the construction of distributed solar assets across the US Southeast, East Coast, and Midwest.

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It is the company’s third financing since its 2023 acquisition by AB CarVal funds, adding to a $50 million construction loan with KeyBank and an $80 million-plus sale-leaseback tax equity transaction with Key Equipment Finance.

Katherine Mason, the CFO of SolAmerica Energy, said that the facility will strengthen the company’s financial flexibility.

Headquartered in Atlanta, Georgia, SolAmerica Energy is owned by AB CarVal funds – a global alternative investment fund manager and subsidiary of AllianceBernstein.

The firm has developed over 300MW of solar projects across 11 states since 2009. The company’s operating portfolio and development pipeline now exceed 1.5GW in distributed generation solar projects nationwide.

In February 2024, SolAmerica Energy signed a supply deal with solar module manufacturer First Solar for 205MW of Series 6 Plus and Series 7 cadmium telluride (CdTe) modules, delivered in 2024–25 for community solar, C&I projects, and municipal utility portfolios.

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