Solar financier Fundamental Renewables lands USD-400m credit facility

Residential solar system. Author: mjmonty. License: Creative Commons, Attribution 2.0 Generic.

September 15 (Renewables Now) - Solar financing provider Fundamental Renewables, the clean energy investment arm of Fundamental Advisors, said today it has secured a USD-400-million (EUR 400.4m) credit facility.

It was arranged by lead lender Delaware Life Insurance Company, a Group 1001 company, with CDPQ American Fixed Income V Inc and East West Bank taking part as lenders too. Andrew Kenney, chief investment officer of Delaware Life, noted that this is the fourth financing provided to Fundamental Renewables by Delaware Life.

The company will use the additional resources to support long-term growth and build on the momentum across the business, the announcement says.

"This financing will help provide creative and flexible capital solutions as we continue to differentiate our platform as the partner of choice for innovative, industry-leading renewable energy developers across the country," said Ryan Keane, Managing Director at Fundamental.

Since launching its renewables strategy in 2015, Fundamental has closed on more than USD 5 billion of renewable energy development and construction loans.

(USD 1 = EUR 1.001)

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