Aggreko Energy Transition Solutions (ETS), a division of Aggreko, a global leader in energy solutions, announced the successful closing of a $66 million term loan financing for a 88.5-megawatt (MWdc) diversified portfolio of C&I and community solar assets.
The solar portfolio is located across New York, Texas, and California and serves a mix of customers spanning utilities, corporates, and low- and moderate-income consumers. The financing provides a distribution to ETS for its acquisition and construction costs and is structured as a delayed-draw term loan to align with project completion milestones.
KeyBanc Capital Markets led the transaction and served as the administrative agent.
Jerry Polacek, President of Aggreko ETS, commented, "We are thrilled to be building upon our long-term relationship with KeyBank to fuel the growth of our C&I and community solar portfolios for our customers. Through this transaction, we’re able to demonstrate the value creation of the projects that we’re bringing online and reinvest funds into the next wave of solar and battery storage assets under development.”
Andy Redinger, Head of KeyBanc Capital Markets Utilities Power and Renewable Group remarked, “We are excited to lead Aggreko ETS solar portfolio financing and look forward to our continued support of these projects for many years to come."
