CIT Power and Energy Business Leads $118.5 Million Financing for North Carolina's Harts Mill Solar Project

CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business served as lead arranger on a $118.5 million financing for the utility-scale Harts Mill Solar project in Edgecombe County, North Carolina. The project is owned by Kayne Anderson Capital Advisors L.P., a leading alternative investment manager, and marks their first solar investment supplying the PJM Interconnection grid. Kayne has partnered with Birch Creek Development and Pine Gate Renewables, a successful utility-scale solar developer based in Asheville, North Carolina. Pine Gate EPC will also be constructing the 112-megawatt facility. In leading this financing, CIT extends its track record as one of the top renewable energy lenders nationwide, according to market research firm Inframation, an Acuris company.

Spotlight

Spotlight

Related News