Clearway secures financing for 71-MW community solar portfolio

Clearway Energy Group on Tuesday said it has completed USD 195 million (EUR 160m) of debt financing for its Community Solar Fund 7 that represents a 71-MW portfolio in Illinois and Massachusetts.

The portfolio, the capacity of which is given in direct current (DC), consists of 12 community solar projects that will serve commercial and industrial customers, as well as about 3,600 residential customers.

Fifth Third Bank and KeyBanc Capital Markets acted as coordinating lead arrangers and joint bookrunners for the debt financing. MUFG Union Bank acted as joint lead arranger and joint bookrunner for construction and term debt financing.

“With our seventh community solar fund, we’re proud to join our partners in continuing to drive innovation in developing community solar plus storage, customizing funding structures, and expanding access to solar energy,” said Natalie Jackson, head of capital markets at Clearway Energy Group.

Clearway has 454 MW DC of community solar projects across the US that complement its utility-scale solar and wind operations.

(USD 1.0 = EUR 0.819)

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