Solar Landscape, a US-based distributed energy infrastructure company, has secured a development financing facility of up to US$150 million.
The facility will be provided by Copenhagen Infrastructure Partners (CIP) through the investment firm’s Green Credit Fund II (CI GCF II). With the financing, Solar Landscape will be able to expedite development of its national portfolio of distributed solar PV projects and scale up its development platform.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
To begin with, the facility will fund a “discrete portfolio” of 250 MW of mid-and late-stage development assets. Through this, Solar Landscape will be able to advance activities earlier in the projects’ lifecycle.
By accelerating tasks such as equipment procurement, interconnection, offtake, and pre-construction development, the projects will come online sooner and generate new renewable energy power faster.
CIP’s facility follows Solar Landscape’s series of investments and transactions over the past year. Altogether, the investments have raised Solar Landscape’s capital to more than US$2.2 billion over the last three years.
Reiner Boehning, Partner at Copenhagen Infrastructure Partners, said: “Solar Landscape’s rooftop community solar projects are precisely what the market needs right now.”
“On a constrained PJM grid where demand is surging, generation that plugs directly into the local distribution system brings new supply online quickly and lowers costs for ratepayers.”
For Solar Landscape, the facility represents an opportunity to grow its American portfolio at a faster pace, meeting the increasing need for power by consumers and utilities in the nation.
“As demand for electricity continues to accelerate, the ability to efficiently raise and deploy capital across the totality of the development lifecycle is becoming an increasingly important competitive advantage,” commented Clayton Avent, chief financial officer of Solar Landscape.
“We deeply appreciate CIP’s partnership in providing us with revolving development capital that increases the throughput of our development platform, allowing us to advance projects more efficiently and bring new distributed energy infrastructure online faster.”
