Competitive Power Ventures (CPV) closed $370 million in revolving credit facilities in support of the company’s renewables development pipeline, CPV announced in an Aug. 24 press release.
The funding will support ongoing construction and early operations of the company’s utility-scale solar projects in Georgia, Maryland and Pennsylvania that together have a combined capacity of 400 MWdc. The Massachusetts-based company already has five wind farms in operation.
Lead arrangers for the funding were Deutsche Bank and Nomura Securities. Bank Leumi and BNP Paribas also provided commitments.
“This arrangement improves the efficiency of our financing efforts and enhances our capital sourcing in support of our next wave of renewable and low carbon projects that will help drive us towards our decarbonization goals,” said CPV’s CFO Paul Buckovich in the release.
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