Greenbacker Capital Management has entered into a $92 million financing agreement with BMO through an affiliated investment vehicle.
BMO served as both lender and the administrative agent for the deal. Wilmington Trust served as collateral agent and depositary agent. The financing package includes a construction to term loan, a tax equity bridge loan, a term loan commitment and a letter of credit facility.
The proceeds from the construction loan and tax equity bridge loan will be used to finance the construction of the Holtville BESS, which will have an expected 30 MW power capacity and up to 120 MWh energy storage capacity.
The project has a long-term contract in place with an investment-grade offtaker. The term loan will support the construction of a portfolio of community solar projects in the northeastern U.S. All portfolio projects are expected to enter commercial operation next year.
Holtville is compliant with the Equator Principles, a voluntary framework adopted by members of the financial industry, including BMO, to responsibly evaluate the environmental and social impacts of the projects they finance.
Greenbacker was advised on the deal by Stoel Rives. Paul Hastings served as legal advisor to BMO. Wilmington Trust was advised by Bryan Cave Leighton Paisner.
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Greenbacker Enters into $92 Million Financing Agreement with BMO
Renewable Energy
The Red Scare
I saw an interview earlier today, in which a TV news journalist (I forget which one) predicted that the threat of communism is going to be the central theme of the Republican leading up to the midterm elections.
This makes sense, given that the target audience is largely unaware that:
In the 1950s, Senator Joseph McCarthy led this nation through a nightmarish effort to imprison anyone with any ties to communism. This is now regarded as one of the greatest miscarriages of justice in U.S. history.
and
There are dozens of social democracies around the globe that offer the citizens extremely high qualities of life. The countries at the top of the World Happiness Rankings are, in order,
- Finland (Score: 7.764)
- Iceland (Score: 7.540)
- Denmark (Score: 7.539)
- Costa Rica (Score: 7.439)
- Sweden (Score: 7.255)
- Norway (Score: 7.242)
- The Netherlands (Score: 7.223)
Now, many MAGA folks can’t find Finland on a map of the world, but it’s that very level of ignorance that makes all this horsecrap work.
Renewable Energy
NOAA Set Up Website — for You
Trump is working hard to dismantling NOAA, the National Oceanic and Atmospheric Administration, the largest collection of American scientists focusing on climate change. He proposed a budget cut of $1.7 billion, or about 27% for 2026. More to the point, he shut down NOAA’s website, that, formerly, gave everyone on Earth the ability to look at key climate-related data.
In response, those scientists, knowing that we can no longer trust the U.S. government for real climate science, have set up Climate.us.
More here, from NPR.
Looks great to me!
Renewable Energy
Why Write?
Here’s a short video that explains why we write.
Like the farmer planting to the seed, we do not know if it will grow into a life-giving plant, but we believe that it’s possible.
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