星期一, 11月 29, 2021
Home PV Finance CIT Group leads financing for solar-plus-storage portfolio

CIT Group leads financing for solar-plus-storage portfolio

Amp Energy is developing five separate solar power generation systems at four project sites in central New York State.

Source:pv magazine

CIT Group said that its power and energy business group was sole lead arranger for $67.8 million in financing for construction of the new AMP NY2 community solar and storage portfolio.

Amp Energy is developing a renewable energy portfolio made up of five separate solar power generation systems at four project sites in central New York State.

The portfolio represents about 40 MW of solar generation capacity and includes three sites with battery storage capabilities.

Founded in 2009, AMP is based in Toronto, Canada with global operations. It has acquired or developed more than 6 GW of renewable power generation since its inception. In January, U.S.-based investment firm The Carlyle Group committed $374 million in financing to the firm.

Renewable power generated by the AMP NY2 portfolio will be fully contracted on completion by a mix of residential and commercial customers. New York Green Bank, a state-sponsored financial entity working to increase investments into New York’s clean energy markets, is sharing in the debt financing for the project.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Utilities and financial investors are investing in renewables, especially hydrogen, like never before

Ernst & Young (EY) released a report detailing transactions in power and utilities (P&U) for Q3 2021, which shows that utilities are putting significant...

South Korea’s largest floating PV plant now online

South Korean floating PV specialist Scotra has completed construction on a 41 MW floating solar array on a water reservoir at the Hapcheon dam,...

Malaysia launches scheme enabling consumers to buy renewable energy

Malaysia's Ministry of Energy and Natural Resources has launched a program to enable domestic and industrial consumers in the country to buy electricity produced...

Round-the-clock tenders can help India meet demand for firm renewable power

A report by the Institute for Energy Economics and Financial Analysis (IEEFA) thinktank, and consultant JMK Research, has highlighted the role mixes of different...