Infiniti Energy is thrilled to announce 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.
