Renewable

June 27 (Renewables Now) - Solar power producer and project developer Infiniti Energy has recently closed up to USD 117 million (EUR 111.2m) in tax equity and construction financing for a growing portfolio of commercial solar projects.

The New Jersey-based company said it has obtained up to USD 87 million in tax equity plus a USD-30-million construction revolver to support commercial and industrial (C&I) solar projects in its home state with a combined capacity of 34 MW.

The portfolio, which is expected to be completed by the end of the year, will be built, owned and operated by Infiniti Energy. The plants will sell their output under power purchase agreements (PPAs) with a variety of off-takers including retail, large multi-family residential, commercial and industrial clients.

Infiniti Energy noted that the closing of this financing falls on the heels of a partnership established in 2021 with Upper Bay Infrastructure Partners.

(USD 1 = EUR 0.950)

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