Infiniti Energy closes $83M financing facility for 2024 commercial solar projects
PRESS RELEASE: Infiniti Energy announces the closing of an $82.9 million structured finance facility with Fifth Third Bank, acting as administrative agent, to support a growing portfolio of commercial solar projects slated for construction in 2024. The construction facility is being financed through Fiera Private Debt and Flagstar Bank is providing the tax equity.
The financing will support the development, construction, and operation of 21 MWs of commercial and industrial (C&I) solar projects located in New Jersey, California, and Illinois. Infiniti Energy will build, own, and operate all sites under power purchase agreements (PPAs) with a diverse group of solar offtakers, including retail, commercial, and industrial clients.
“The Infiniti team is excited to build on our expanding partnership with Fifth Third Bank and welcome the opportunity to work with Fiera and Flagstar to support our growing portfolio,” said Michael Kushner, Infiniti Energy CEO. “The projects that Infiniti owns and operates continue to generate affordable and sustainable solar energy for our clients while contributing to our country’s renewable transition.”
Development of the projects is already underway, and completion of the portfolio is expected this year.
About Infiniti Energy
Infiniti Energy is a national commercial solar developer and independent power producer providing engineering, procurement, construction, and long-term financing to select clients and solar companies. Infiniti personnel have over 1GW of combined experience in the public and private sectors including Fortune 100 portfolios and government entities. For more information about Infiniti Energy, please visit www.infinitienergy.com.
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