Tuesday, November 15, 2016

sPower Gets $434M In Financing For Solar Projects

Salt Lake City-based sPower which is an operator of utility-scale solar power plants, said that it has received $434M in tax equity and debt financing for its projects. The company said the financing was arranged by KeyBanc Capital Markets Inc., with a debt facility from CIT Bank, N.A., CoBank ACB, Coöperatieve Rabobank U.A., KeyBank N.A., Norddeutsche Landesbank Girozentrale (Nord/LB) and Siemens Financial Services, Inc. the deal also included tax equity from PNC Energy Capital and U.S. Bancorp Community Development Corporation. The company said the financing goes towards an 183 megawatt solar power facility in Kern County, California.