CIT Leads $217 Mn Financing for 200 MW Solar Project in Ohio

• The CIT team's Power and also Energy system acted as lead arranger on a USD 217 million funding for the 200 MW Hillcrest solar PV project in Brown County, Ohio

The CIT team has actually revealed that its Power and also Energy device acted as lead arranger on a USD 217 million funding for the 200-megawatt (MW) Hillcrest solar photovoltaic project in Brown County, Ohio.

The funding was set up in behalf of Innergex Renewable Energy, a Canada-based independent sustainable power manufacturer that creates, obtains, possesses as well as runs hydroelectric centers, wind ranches as well as solar ranches. Innergex's profile consists of 68 operating renewable resource centers with an accumulated internet set up ability of 2,588 MW.

" Securing Hillcrest's funding is a crucial progression, as well as we are really happy with the contract we have actually gotten to," claimed Michel Letellier, President as well as Chief Executive Officer of Innergex. "We considerably valued CIT's dexterity as well as knowledge in organizing this funding as well as capacity to supply regardless of the present conditions."

About the funding, CIT is supplying a plan of cash money administration and also resources markets solutions. Power and also Energy, part of CIT's Commercial Finance department, leverages its deep market understanding and also competence to use thorough funding options for traditional and also eco-friendly power generation. The system handles a huge, varied profile that consists of financial investments in all property courses throughout the power market.

" We are extremely delighted to once again sustain Innergex as it remains to broaden its profile of renewable resource projects," stated Mike Lorusso, handling supervisor as well as team go to CIT's Power and also Energy service. "Innergex is making significant strides ahead of time the development of sustainable power and also CIT is proud to contribute in helping with that development."

Lately, SunPower Corp had actually revealed that a brand-new USD 1 billion collaboration with Technology Credit Union (Tech CU) will certainly raise funding choices for certified United States domestic solar clients. The brand-new collaboration will certainly provide SunPower accessibility to funding for its lending program.

In April, Global renewable resource developer, company as well as supplier BayWa r.e. had actually revealed that it has actually protected tax obligation equity and also building and construction funding for its Fern Solar project in Edgecombe County, North Carolina. Building of the 133.6 MW solar ranch is currently underway as well as schedules for conclusion in the summertime of 2020, with complete appointing prepared for in H2 2020.