Aggreko banks USD-66m loan for US solar portfolio

UK-based power solutions provider Aggreko has arranged a USD-66-million (EUR 59.7m) term loan to fund a portfolio of commercial and industrial (C&I) and community solar assets across New York, Texas and California with a combined direct current (DC) capacity of 88.5 MW.

The financing was obtained by Aggreko Energy Transition Solutions (ETS) to cover the acquisition and construction costs and is structured as a delayed-draw term loan to align with project completion milestones, a press statement says.

The targeted portfolio serves a mix of clients spanning utilities, corporates and low- and moderate-income consumers.

The transaction was led by KeyBanc Capital Markets as the administrative agent.

(USD 1 = EUR 0.906)

Choose your newsletter by Renewables Now. Join for free!