SolAmerica Secures $100M to Boost Community Solar Expansion

• SolAmerica Energy secures $100M from Deutsche Bank to fast-track U.S. community-solar projects, boosting local access to utility savings and accelerating green energy growth.

SolAmerica Energy has secured a $100 million revolving credit facility from Deutsche Bank, supported by AB CarVal, to accelerate the development and construction of community-solar projects across the U.S. This funding will enable SolAmerica to secure equipment, mobilize engineering, procurement, and construction (EPC) services, and bridge to tax equity as projects reach the notice-to-proceed stage, addressing challenges in interconnections and supply logistics. The company, acquired by AB CarVal funds in 2023, is leveraging a repeatable template to scale its operations.

The credit facility marks SolAmerica's third financing since its acquisition, highlighting increased lender confidence in community-solar cash flows and subscriber-management platforms. The funds will focus on markets with clear interconnection pathways and mature subscriber programs, aiming to expedite projects to commercial operation dates (COD) and secure queue positions. This expansion is expected to enhance local customer access to utility bill savings, particularly in low-to-moderate income (LMI) focused segments, by bringing more projects online sooner.

How will SolAmerica's $100M credit facility impact community-solar project development in the U.S.?

• Accelerates project timelines by providing necessary capital to secure equipment and services quickly.
  
• Enhances ability to address interconnection and supply chain challenges, reducing delays.
• Increases lender confidence in community-solar projects, potentially attracting more investment.
• Focuses on markets with established interconnection pathways, ensuring smoother project execution.
  
• Expands access to solar energy savings for local communities, particularly benefiting low-to-moderate income households.
  
• Supports scaling of operations through a repeatable project development template.
  
• Facilitates quicker transition from project development to commercial operation, improving project viability.
  
• Strengthens SolAmerica's position in the community-solar market, potentially leading to more partnerships and collaborations.