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.
The post Pivot Energy Secures $450M in Financing of Distributed Generation Portfolios appeared first on Solar Industry.
Pivot Energy Secures $450M in Financing of Distributed Generation Portfolios
It’s hard to think of a bad trait that Trump doesn’t manifest.
He certainly has pettiness and vindictiveness nailed.
-
Finance -
Policy -
Technology -
Press Releases
ACORE Celebrates its 25th Anniversary by Ringing The Opening Bell at the NYSE
New York, NY – Today, ACORE celebrated 25 years by ringing The Opening Bell at the New York Stock Exchange (NYSE), marking an important milestone and sending a clear message that clean energy is a foundational economic engine of the 21st century.
“When ACORE was founded 25 years ago, our goal was to prove the economic case for clean power. Today, as we ring the bell at the New York Stock Exchange, we are celebrating the reality that clean energy is now the cheapest, most reliable, and most scalable source of power available,” said ACORE President and CEO Ray Long. “Our focus remains on the future. We are facing unprecedented electricity demand growth, and we need to deploy capital faster than ever before to build the grid of tomorrow. The financial momentum is here, and the clean energy economy is ready to deliver the abundant, low-cost power our nation demands.”
Founded in 2001, ACORE was the first organization dedicated to expanding the pan-renewable economy in the United States. For 25 years, ACORE has worked toward its vision of an electrified economy powered by clean energy that supports an improved quality of life for all. Today, ACORE members are the investment engine behind the massive clean energy deployment that is helping ensure that Americans’ energy needs are met.
###
About ACORE:
ACORE is a nonpartisan nonprofit organization that operates at the intersection of affordability, reliability, and clean energy deployment. Our work is focused on stabilizing energy prices, strengthening the electric grid, and driving investment in cost-effective technologies to ensure that clean energy delivers for people, businesses, and the U.S. economy.
ACORE’s membership includes clean energy investors, developers, energy buyers, power generators, manufacturers, and energy providers. In 2024, nearly 80% of the booming utility-scale domestic clean energy growth was financed, developed, owned, equipped, or contracted by ACORE members. For more information, visit www.acore.org.
Media Contacts:
Chris Higginbotham
higginbotham@acore.org
The post ACORE Celebrates its 25th Anniversary by Ringing The Opening Bell at the NYSE appeared first on ACORE.
https://acore.org/news/acore-celebrates-its-25th-anniversary-by-ringing-the-opening-bell-at-the-nyse/
-
Greenhouse Gases12 months ago
Guest post: Why China is still building new coal – and when it might stop
-
Climate Change12 months ago
Guest post: Why China is still building new coal – and when it might stop
-
Greenhouse Gases2 years ago嘉宾来稿：满足中国增长的用电需求 光伏加储能“比新建煤电更实惠”
-
Climate Change2 years ago嘉宾来稿：满足中国增长的用电需求 光伏加储能“比新建煤电更实惠”
-
Climate Change2 years ago
Bill Discounting Climate Change in Florida’s Energy Policy Awaits DeSantis’ Approval
-
Renewable Energy9 months agoSending Progressive Philanthropist George Soros to Prison?
-
Carbon Footprint2 years agoUS SEC’s Climate Disclosure Rules Spur Renewed Interest in Carbon Credits
-
Greenhouse Gases1 year ago
嘉宾来稿：探究火山喷发如何影响气候预测