CleanCapital is funding a solar project portfolio that will supply electricity to facilities owned by Howard County, Maryland. New Jersey-based CI Renewables is developing 10 projects totaling 25 MW, undertaking the largest power purchase agreement in Maryland.
“This dual closing demonstrates the breadth of CleanCapital’s financing capabilities,” said Melinda Baglio, chief investment officer and general counsel at CleanCapital. “Our ability to deliver the full capital stack gives developers of middle-market solar projects across the country confidence that we can finance the construction of their projects efficiently.”
Construction on those projects will be completed in phases beginning this month through 2023.
“We are pleased to work again with CleanCapital, an industry leader in solar and energy storage,” said Mike Lorusso, managing director and group head for CIT’s Power and Energy business. “This transaction is another example of our market-leading position in arranging financing for renewable power assets.”
