Scale Microgrids Secures $275M for US Renewable Projects

• Scale Microgrids secures $275M to power 140 MW of clean energy projects across the U.S., boosting their total funding to over $1 billion.

Scale Microgrids, a US renewables platform, has secured $275 million in project financing to support 140 MW of distributed generation projects, including microgrids, community-scale solar, and battery installations. The projects, located in states such as New York, Pennsylvania, New Jersey, Connecticut, and California, are already under construction. The financing was arranged by a consortium led by KeyBanc Capital Markets, Cadence Bank, and New York Green Bank, with additional lenders like Investec and Mitsubishi HC Capital America. The funds include construction loans, tax equity bridge loans, and term loans for projects expected to be operational by 2025 and 2026.

Energetic Capital will provide credit enhancement through a credit insurance policy. This deal increases Scale Microgrids' total funds raised to over $1 billion. The Ridgewood, New Jersey-based company, a portfolio firm of Swedish investment company EQT, develops, acquires, owns, and operates microgrids and distributed energy resources for various sectors, including commercial, industrial, EV fleet, data centers, municipal, university, hospital, and agricultural customers.

How will Scale Microgrids utilize the $275 million financing for distributed generation projects?

• Scale Microgrids will use the financing to accelerate the construction and deployment of distributed generation projects across multiple states.
  
• The funds will support the development of microgrids, enhancing energy resilience and reliability for commercial and industrial clients.
  
• Community-scale solar projects will be expanded, increasing access to renewable energy for local communities.
  
• Battery installations will be integrated to provide energy storage solutions, optimizing energy use and reducing reliance on the grid.
  
• The financing will enable Scale Microgrids to enhance its portfolio of renewable energy assets, contributing to a more sustainable energy infrastructure.
  
• Construction loans will facilitate the immediate building of projects, while tax equity bridge loans will optimize financial structuring.
  
• Term loans will ensure long-term financial stability and operational success of the projects.
• The projects are expected to be operational by 2025 and 2026, aligning with regional and national renewable energy goals.
• The financing will help Scale Microgrids to expand its market presence and strengthen its position as a leader in the distributed energy sector.