Celadon Solar Portfolio

107MW Greenbacker's Celadon Solar Portfolio - Financing

Industry
Renewables/PV solar
Area of finance
Project & Infrastructure Finance
Region
North America
Countries
United States

Deal Overview

Greenbacker Renewable Energy Company (GREC) has entered into a $76.3 million senior credit agreement with joint lead arrangers Fifth Third Bank, National Association, and PNC Capital Markets. Morgan Stanley Renewables served as tax equity investor. The credit facility will be used to expand...

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Greenbacker Renewable Energy Company (GREC) has entered into a $76.3 million senior credit agreement with joint lead arrangers Fifth Third Bank, National Association, and PNC Capital Markets. Morgan Stanley Renewables served as tax equity investor. The credit facility will be used to expand Greenbacker's 107MW Celadon portfolio of 36 solar projects located across 12 US states and Washington, DC. All of the contracted portfolio’s projects either entered commercial operations in 2021 or will reach that stage in 2022. Greenbacker was advised on the deal by the Stoel Rives law firm while Fifth Third Bank was advised by Moore & Van Allen.

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Deal Volume
$76.3m
Financial Close
19 April 2022

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Projects

107MW Celadon Solar Portfolio

Greenfield
PV solar
North America
United States
$76.3m