The financing facility consists primarily of a construction-to-term loan and includes additional preferred equity bridge loan and tax credit bridge loan capacity. The financing will support the development, construction, and operations of a 40 MW portfolio of 42 community solar and commercial and industrial solar and energy storage projects located across nine states (AZ, CA, GA, IL, MD, ME, MN, NE and TX) in the U.S.
"This transaction reflects the dedication and creativity of the BRE team and our partners at Investec, Amalgamated, Farmer Mac and Energetic Capital," said Adam Haughton, Chief Investment Officer of Bridge Renewable Energy. "Distributed solar and energy storage have been constrained by access to efficient capital. This financing facility exemplifies the types of innovative capital needed to accelerate distributed energy deployment in the U.S."
"Investec is pleased to support Bridge Renewable Energy as sole lead arranger for the financing of its distributed solar and battery storage portfolio. This transaction highlights our ability to deliver creative and scalable capital solutions that support the growth of distributed renewable energy across the U.S. Drawing on our global expertise and deep sector knowledge, we continue to work closely with clients ...