Birch Creek Development increases credit facility to US$ 250m to pursue 5GW US PV pipeline

• United States PV developer Birch Creek Development has actually increased its existing credit facility with financial obligation funding service provider Fundamental Renewables to US$ 250 million to pursue its 5GW solar pipe in the US and also support its module procurement technique.

Announced yesterday (5 July), the raised credit facility will fund the development and building of Birch Creek's utility-scale solar portfolio as well as "critical acquisitions in key markets", claimed Birch Creek, which concentrates on the development and also financing of utility-scale solar and storage space projects in the US.

Additionally, the funds will additionally be made use of to strengthen Birch Creek's solar module purchase technique, which the business stated was a "key component" in its growth strategy.

Module supply in the US has constricted substantially adhering to supply chain interruptions, trade tariffs and anti-circumvention examinations. PV Tech Premium has outlined the vital elements to think about moving on.

Birch claimed that, because 2019, it has funded over 700MW of US projects and presently has a project pipeline of 5GW in various stages of development throughout MISO, PJM, Texas as well as the Southeast.

"This improved credit facility allows us execute on our current pipeline and target brand-new opportunities in our core markets, while also providing us the sponsorship essential to pursue our tactical goals," claimed Dan Siegel, Chief Executive Officer of Birch Creek.

Fundamental Renewables is the renewable and also clean energy financial investment arm of Fundamental Advisors LP.