Soltage closes financial obligation facility for 110-MW US solar portfolio

• US independent power producer Soltage LLC has actually protected a USD-130-million (EUR 176.4 m) debt center led by Silicon Valley Bank to fund a portfolio of solar projects throughout six states.

The funds will be routed towards projects in both North and South Carolina, Maine, Illinois, Virginia as well as Maryland, with an incorporated capacity of 110 MW. Ten of these projects, located in 4 states, are currently in the building phase as well as the whole portfolio is expected to be realised over the following 3 quarters.

The output of the completed plants will be offered to investor-owned energies, neighborhood solar clients as well as corporations.

The center consists of an option for a growth of USD 100 million to support a lot more projects. Silicon Valley Bank acts as the sole collaborating lead arranger, with 3 other banks included as lenders.

In March 2021, Soltage formed a USD-250-million partnership with Chicago-based investment manager Harrison Street to money solar and also various other clean power projects. The two partners prepare to set up 450 MW of dispersed solar as well as storage space projects across the nation, beginning with a 14.5-MW portfolio worth USD 30 million, they claimed.