Curated News
By: NewsRamp Editorial Staff
May 12, 2025
SolarBank and CIM Group Secure $100M Financing for U.S. Solar Projects
TLDR
- SolarBank secures US$100 million financing deal for 97 MW U.S. solar projects, positioning for long-term growth and equity-style exposure.
- Deal structured as preferred equity investment at project level, maintaining SolarBank's share capital and majority ownership post-financing.
- SolarBank's shift to long-term solar asset ownership promotes sustainable energy growth, contributing to a greener future for the U.S.
- SolarBank partners with CIM Group for US$100 million solar energy financing, advancing renewable energy projects in the United States.
Impact - Why it Matters
This news matters as it signifies SolarBank's strategic move towards long-term solar asset ownership, highlighting the growth potential in the U.S. renewable energy sector. The partnership with CIM Group showcases investor confidence in SolarBank's projects and sets the stage for further expansion in the clean energy market.
Summary
SolarBank and CIM Group have announced a US$100 million financing deal for a portfolio of U.S. solar energy projects totaling 97 MW. The deal is structured as a preferred equity investment at the project level, preserving SolarBank’s share capital, with CIM receiving a 3% annual coupon and retaining full ownership of transferred investment tax credits. SolarBank expects to maintain majority ownership of the 21-project portfolio post-financing, supporting SolarBank’s shift toward becoming a long-term solar asset owner in the U.S.
Source Statement
This curated news summary relied on content disributed by InvestorBrandNetwork (IBN). Read the original source here, SolarBank and CIM Group Secure $100M Financing for U.S. Solar Projects
