Sol Systems Secures $675M for Solar Projects in U.S.

• Sol Systems secures $675M green loan to power 84,000 homes with solar-plus-storage projects, accelerating clean energy growth in Illinois, Ohio, and Texas.

Sol Systems has secured a USD 675-million revolving credit facility to finance a 500-MW solar-plus-storage project pipeline in Illinois, Ohio, and Texas. The three-year facility, structured by KKR Capital Markets as a green loan, will provide construction loans, tax-equity bridge loans, and letters of credit. This allows Sol Systems to manage multiple projects and access capital as they progress. A six-bank syndicate, including BBVA, ING Capital, and NatWest, is backing the debt, highlighting strong interest in US clean-energy investments.

CFO Richard Romero stated the credit line enables rapid delivery of clean energy projects, with the first tranche expected online by 2026. Sol Systems, founded in 2008, currently manages over 7 GW across 38 states. The new funding aims to accelerate growth amid tightening decarbonization targets. At full capacity, the 500 MW project could power approximately 84,000 homes, enhancing regional grid flexibility with zero-carbon energy.

How will Sol Systems' USD 675-million credit facility impact US clean energy projects?

• The USD 675-million credit facility will enable Sol Systems to accelerate the development and deployment of clean energy projects, contributing to the US's renewable energy goals.
• By providing construction loans and tax-equity bridge loans, the facility will help overcome financial barriers that often delay project timelines, ensuring faster project completion.
• The involvement of a six-bank syndicate underscores strong financial sector confidence in the viability and profitability of clean energy investments in the US.
• The credit facility will support the integration of solar-plus-storage solutions, enhancing grid reliability and flexibility by providing consistent energy supply even when solar generation is low.
• The projects financed by this facility will contribute to job creation in the renewable energy sector, supporting local economies in Illinois, Ohio, and Texas.
• By enabling the rapid delivery of clean energy projects, the facility will help meet tightening decarbonization targets, aligning with national and state-level climate goals.
• The successful implementation of these projects could serve as a model for future renewable energy financing, encouraging more investment in the sector.
• The facility's structure as a green loan highlights the growing trend of sustainable finance, promoting environmentally responsible investment practices.
• The expected online date of the first tranche by 2026 aligns with critical timelines for reducing carbon emissions, contributing to long-term environmental benefits.
• The 500 MW project, at full capacity, will significantly reduce carbon emissions by replacing fossil fuel-based energy sources, contributing to cleaner air and a healthier environment.