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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.

The post Greenbacker Enters into $92 Million Financing Agreement with BMO appeared first on Solar Industry.

Greenbacker Enters into $92 Million Financing Agreement with BMO

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Renewable Energy

A Free Lunch?

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My maternal grandfather was born in southeastern Pennsylvania in 1903 and told me when I was a boy that in the 1920s, times were so good that saloon owners would offer a free lunch, consisting of bread, cheese, and cold cuts. “Sure, they were hoping you’d buy a glass of beer, but they really didn’t mind if you didn’t and simply scarfed down a free sandwich.”

He went on to tell me that nowadays, there’s a popular slogan: There’s no such thing as a free lunch, “but believe me, there was at the time.”

From today’s perspective of greed and selfishness, this whole story sounds like a fairy tale.  Corporations and the congresspeople they own want one thing: to suck the life out of us.

A Free Lunch?

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Renewable Energy

Trump’s Policies Are Causing So Much Pain

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As a financially comfortable, educated, straight white male, one might think I’m impervious to any of Trump’s policies.

I have a weakness, however, and it’s one I share with virtually every other progressive on the planet–I care deeply the well-being of other people. It disturbs me greatly to see other people suffer, especially when that suffering would be so easily avoided.

Trump’s Policies Are Causing So Much Pain

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Renewable Energy

Let’s Apply Some Reason Here

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At left is a great example of a fallacy called a “false dichotomy.”

We all crave information that backs up what we already believe, and, in general, Trump supporters have this going on in spades.

When we think about it, isn’t in possible to both protect American citizens and respect the Constitution rights all people living here?

Let’s Apply Some Reason Here

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