Radial Energy has closed on $80 million in tax fairness financing from Financial institution of America to assist the corporate’s pipeline of distributed technology tasks by means of late subsequent yr, encompassing each asset and portfolio-level turn-key built-in tasks.
This tax fairness capital elevate, alongside again leverage, is deliberate to assist fund the event and set up of an estimated 96 MW of C&I and neighborhood photo voltaic tasks, in addition to assist actual property prospects throughout not less than 9 states.
“This strategic funding will assist Radial Energy’s sturdy pipeline of low-cost, low-carbon clear power options that allow offtakers to fulfill their ESG and sustainability objectives,” says John M. King, CFO of Radial Energy. “Our nationwide portfolio of best-in-class distributed technology tasks is unlocking revenues from underutilized actual property, delivering worth to our prospects, and accelerating a dependable U.S. power transition.”
This deal marks the inaugural tax fairness financing Radial Energy has closed with Financial institution of America.
“We’re proud to assist Radial Energy on this newest milestone. The tax fairness transaction underscores Financial institution of America’s dedication to mobilize and deploy $1.5 trillion in sustainable finance capital by 2030, and to assist the scalable and reasonably priced supply of unpolluted, native energy to communities, companies and people,” provides Financial institution of America’s Danielle King.
Latham & Watkins acted as authorized counsel to Radial and Milbank to Financial institution of America.
