Energy solutions provider Genie Energy has closed on a loan financing for a portfolio of operating solar generation assets.
The $7.4 million fixed rate term loan secured through National Cooperative Bank (NCB) provides project financing for a solar array portfolio rated for an aggregate 10 MW. The arrays, which Genie purchased through its Sunlight Energy subsidiary during the past year, provide power to educational facilities in three Midwestern states through direct fixed-price solar PPA.
“I am very pleased to complete the financing of this portfolio,” says Michael Stein, CEO of Genie Energy.
“These assets have generated revenue and profitability in line with expectations since we acquired them. The financing provided by NCB increases the arrays’ return on equity and more broadly, represents a key element of our solar generation strategy within our Genie Renewables division. We expect to continue to utilize project financing to optimize our capital structure, maximize equity returns, increase capacity for new product development and enhance profitability for projects we develop or acquire going forward.”
The post Genie Energy Closes on Solar Generation Project Financing appeared first on Solar Industry.
The United States seems set on propelling itself backwards.
Maybe, as they say, “Hell has a special place reserved in it” for people like Thom Tillis, Republican Senator from North Carolina, who enabled Trump to rape and destroy the United States.
That was until it became clear to Tillis that he could jump ship, write a scathing book about the president, get all over mainstream news promoting it, and go on to enjoy another chapter of political success.
That we Americans are so stupid that we accept this blatant hypocrisy and criminality is sad proof that we’re not the people we were 20 years ago. Maybe what many people are saying are correct: we deserved what we got.
Here’s a short video from Elle Cordova that reminds us that science is something of a rarity in human history.
The great tyrants of history have done their best to cause the people they ruled to reject science, simply to ensure the masses are ignorant, terrified, superstitious, and thus easily controlled.
The current political administration is particularly engrossed in the rejection of science. I wonder why.
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