CashNews.co
Aggreko Energy Transition Solutions (ETS) has closed on $66 million in term loan financing for a 88.5 MW portfolio of C&I and community solar assets.
Portfolio projects are located across New York, Texas and California. The financing provides a distribution to ETS for its acquisition and construction costs and is structured as a delayed-draw term loan to align with project completion milestones.
“We are thrilled to be building upon our long-term relationship with KeyBank to fuel the growth of our C&I and community solar portfolios for our customers,” says Jerry Polacek president of Aggreko ETS.
“Through this transaction, we’re able to demonstrate the value creation of the projects that we’re bringing online and reinvest funds into the next wave of solar and battery storage assets under development.”
KeyBanc Capital Markets led the transaction and served as the administrative agent.