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Clearway finalises financing on 76-MW solar portfolio

Solar panels in Massachusetts, USA. Author: liz west. License: Creative Commons.

January 17 (Renewables Now) - Clearway Energy Group LLC, a US renewable energy generation and distribution company, said on Thursday it has completed financing on its Community Solar Fund V -- a portfolio of 21 projects with a combined direct current (DC) capacity of 76 MW in the US.

CIT was coordinating lead arranger and bookrunner, with KeyBanc Capital Markets and Silicon Valley Bank serving as joint lead arrangers for the construction and term debt financing. An undisclosed party provided tax equity financing for the portfolio.

Most of the projects part of the portfolio will become operational this year. They are located in the states of Illinois, Massachusetts, Minnesota and New York.

Clearway has over 320 MW of community solar projects across the country, in addition to its utility-scale solar and wind operations.

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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