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CleanCapital refinances 46.9-MW US solar portfolio

Plymouth Solar Site in Massachusetts. Source: CleanCapital

June 17 (Renewables Now) - Clean energy investment platform operator CleanCapital has closed on a USD-85.7-million (EUR 76.2m) refinancing of its Tahoe commercial and industrial (C&I) solar portfolio, it announced today.

Santander Bank NA and CIT Bank NA are the lenders in this transaction, providing debt that matures in 2026.

CleanCapital, which is backed by funds managed by BlackRock’s (NYSE:BLK) Renewable Power Group, acquired the 46.9-MW Tahoe solar portfolio in November 2018 from ATN International Inc. The portfolio includes 60 operating solar assets in the states of Massachusetts, California and New Jersey.

Since April 2018, CleanCapital has acquired more than 84 MW of distributed solar plants in operation, it noted.

(USD 1.0 = EUR 0.890)

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