Pivot Energy has secured a $450 million debt warehouse facility, led by First Citizens Bank, which includes new strategic partner ATLAS SP Partners, the warehouse finance and securitized products business majority owned by Apollo funds.
Pivot also closed on a structured equity investment from HA Sustainable Infrastructure Capital (HASI) in a new project joint venture. Together, these financing structures are slated to support the construction of 300 MW of distributed generation projects that Pivot is developing across the U.S.
The portfolio consists of 96 projects, the majority of which are community solar with the remaining being single off-take PPAs for commercial clients. The projects are expected to be operational within the next two years, and are located across California, Colorado, Delaware, Hawaii, Illinois, Maryland, Minnesota, New York and Virginia.
“Pivot is redefining how to finance portfolios of distributed generation solar projects at scale which reflects our mission to advance the renewable energy transition,” says Bret Labadie, CFO of Pivot. “We are thrilled to expand our longstanding partnership with First Citizens Bank and welcome new relationships with key institutions like ATLAS and HASI, all of which are deeply respected in the clean energy space.”
The debt warehouse facility also included support from existing lenders Bank United, Comerica and Cadence Bank.
CRC-IB acted as exclusive financial advisor to Pivot, and Stoel Rives acted as exclusive legal advisor. Milbank acted as legal advisor to First Citizens Bank, and Sheppard Mullin acted as legal advisor to HASI.
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Pivot Energy Secures $450M in Financing of Distributed Generation Portfolios
It’s not as if the United States has held the moral high ground throughout its history, with its slavery, the butchering of the Indians, Jim Crow, the support of tyrannical dictatorships around the globe, and the corrupt suppression of the working class in favor of Trump’s billionaire donors.
Yet, it was very recently that the entire nation became a force for the destruction of civil society.
There really are threats to human civilization that seem to be mounting in intensity:
• World fascism. (If it can happen in the U.S., it could conceivably happen anywhere.)
• Environmental collapse.
• Malicious use of AI.
• Pandemics, as misinformation on vaccinations spread and the frozen tundra melts, releasing pathogens never seen by humans.
• Nuclear war.
Addressing the point made at left, is there any scenario in which world governments agree to cooperate so as to stave off the end of an organized society here on Earth? One supposes so, though it sounds far-fetched in today’s world in which the leaders of most of the 200+ sovereign nations are trying so desperately to cling to power.
Obviously, James Carville has been wrong before, but it appears that he’s onto something here.
An ever-increasing number of Americans are realizing that Trump is criminally insane, and is leading this nation to destruction.
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