SOLAR+STORAGE

Nexamp Secures $440 Million for Solar and Energy Storage Portfolio

Nexamp | March 08, 2021

Nexamp, Inc., a main renewable energy generator and local area solar supplier, has shut a $440 million senior got credit office for a 380-megawatt portfolio of solar and energy stockpiling resources, the biggest debt financing of its sort. The assorted portfolio traverses five state markets and comprises of almost 100 local area solar tasks, including energy stockpiling limit adding up to 120MWh. MUFG Union Bank, N.A. filled in as the Coordinating Lead Arranger for the partnered financing, which included support from a far reaching gathering of market-driving loan specialists.

Nexamp has arisen as the biggest proprietor administrator of local area solar resources across the area's quickest developing business sectors, and this financing mirrors the organization's situation as a market chief with a demonstrated history of renewable energy financing and resource arrangement. Evenhanded admittance to clean energy is a sign of Nexamp's main goal; this declaration insists the accomplishment of the organization's imaginative local area solar stage that makes solar a possibility for anybody, with no credit checks for people, no direct charges, nothing to introduce and no drawn out responsibility.

"The strong lender interest in response to this portfolio demonstrates the momentum behind the renewable energy industry and is a clear validation of Nexamp's approach," noted Peter Tawczynski, Chief Financial Officer, Nexamp. "We have built the most progressive and accessible community solar model available today, removing many of the traditional barriers and making it simple for customers to partner with Nexamp. As we bolster our solar portfolio with energy storage solutions, we look forward to launching new products in more geographies and delivering savings to our expanding customer base."

The financing course of action, joined with Nexamp's extraordinarily coordinated plan of action, positions the organization for quickened development in the coming year. Nexamp creates, gets, assembles, claims and works its solar and capacity projects, while getting and dealing with a quickly developing client endorser base of in excess of 25,000 homes and organizations. With almost 300 new solar and capacity projects in the pipeline, this financing perceives Nexamp's unparalleled ability to make clean energy open rapidly to more networks.

"Nexamp aims to help our customers and partners accelerate their decarbonization journey. Our community solar platform is an increasingly important part of that process for many, combining meaningful cost savings with a simple way to contribute to the clean energy revolution," said Nexamp CEO Zaid Ashai. "This financing enables Nexamp to double down on our own urgent mission to deliver sustainable energy options for our customers in an equitable manner."

"Distributed power generation—and community solar in particular—is a growing segment of the renewable energy market that plays a vital role in reducing carbon emissions with the participation of a wide range of community members, and Nexamp is a reputable market leader in this field," says Takaki Sakai, Managing Director of MUFG's Project Finance team that led the financing. "MUFG is honored to help Nexamp advance its continued growth through the successful closing of this landmark debt financing—one of the largest to have been provided to a community solar portfolio—and we look forward to continuing our strong partnership."

About Nexamp

Nexamp is leading the transformation to the new energy economy with proven solar and storage solutions that make clean energy more accessible. Our comprehensive solar and energy storage capabilities—including project development and acquisition, design, construction, and operations—make it possible to extend clean energy savings and benefits to more customers. Nexamp's industry-leading community solar platform makes solar an option for anyone, providing guaranteed savings on their annual electricity costs. With more than 300 MW of renewable energy generating assets currently in operation, we are building a decarbonized energy future.

Spotlight

The growing importance of sustainability is cultivating demand for comprehensive energy solutions that can help organizations achieve their environmentally focused goals. Low-carbon alternatives in recent years have been more focused on electricity from intermittent renewable energy sources, such as wind and solar PV, in addition to some base load sources such as landfill gas and biomass-fueled power generation. However, demand for addressing the thermal side of the equation is gaining momentum.

Spotlight

The growing importance of sustainability is cultivating demand for comprehensive energy solutions that can help organizations achieve their environmentally focused goals. Low-carbon alternatives in recent years have been more focused on electricity from intermittent renewable energy sources, such as wind and solar PV, in addition to some base load sources such as landfill gas and biomass-fueled power generation. However, demand for addressing the thermal side of the equation is gaining momentum.

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ENERGY

ReneSola Power to Participate at the Roth 8th Annual London Conference

ReneSola Ltd | June 10, 2022

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SUSTAINABILITY

GKN Hydrogen, SoCalGas and the National Renewable Energy Laboratory agree to collaborate

GKN Hydrogen | July 01, 2022

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MARKET RESEARCH

Ceres and Shell announce electrolyser agreement for green hydrogen

Ceres Power | June 28, 2022

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