Summit Ridge Vitality and HASI have closed a $309 million back-leveraged time period mortgage on a portfolio of 80 working group photo voltaic tasks.
The 216 MW portfolio, constructed by Summit Ridge, consists of ground-mount and rooftop group photo voltaic tasks all through Illinois and Maryland.
“We’re thrilled to companion with Financial institution of America, Nomura Securities Worldwide, Prudential Non-public Capital and MetLife Funding Administration to shut this important funding, which demonstrates the urge for food for group photo voltaic as an asset class throughout the capital markets,” says Adam Kuehne, CIO at Summit Ridge Vitality.
“We’re additionally pleased with our five-year group photo voltaic partnership with HASI and invigorated by the finance group’s confidence in our joint portfolio and strategy. Our workforce is dedicated to proceed investing in and increasing entry to wash, renewable vitality for communities nationwide.”
Lenders included Financial institution of America, Nomura Securities Worldwide, Prudential Non-public Capital and MetLife Funding Administration. Financial institution of America acted as the only structuring and placement agent and joint lead arranger. Nomura acted because the joint lead arranger.
The tasks are owned by Summit Ridge Capital Holdings, a three way partnership between Summit Ridge Vitality and HASI.
