Soltage has secured the closing of a $260 million construction and term debt financing facility. The financing will aid the near-term deployment of solar and storage projects from Soltage’s development pipeline of over 2 GW across US. The financing structure comprises a revolving construction loan, tax equity bridge loan, and a term loan facility.
The financing will enable Soltage to continue developing, building, and operating its portfolio of clean energy infrastructure assets. The facility was structured and led by the National Bank of Canada, alongside First Citizens Bank. Furthermore, BankUnited, Cadence Bank, and Siemens Financial Services joined as joint arrangers.
Soltage is an independent power producer that develops, owns, and operates distributed utility-scale solar and storage assets across US. It has delivered more than 125 clean energy projects totaling over 500 MW of distributed generation capacity.
