Solar developer Encore lands USD-20m loan

Dollars in green. Author: 401(K) 2012.

May 5 (Renewables Now) - Encore Renewable Energy has closed on a USD-20-million (EUR 18.6m) senior loan provided by Lacuna Sustainable Investments and Javelin Capital.

The company said in a statement that this interim debt financing is being used to retire existing debt. It also helps Encore expand into new geographic markets and advance solar-plus-storage, brownfield redevelopment and dual land-use agrivoltaic initiatives.

“This infusion of capital comes at a critical time in our company’s growth trajectory and will allow us to accelerate our strategic plan and enhance our ability to deploy distributed solar and storage in our core markets and beyond,” said Blake Sturcke, president of Encore Renewable Energy.

(USD 1.0 = EUR 0.928)

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