US renewables provider Pivot Energy has agreed a US$100m revolving development loan facility with debt finance firm Fundamental Renewables.
The money will go towards funding a diverse range of solar and storage projects across the US.
The facility provides Pivot Energy with the financial flexibility to accelerate the development and initial construction efforts of its large pipeline of distributed generation solar projects throughout the loan’s three year term.
This flexibility will allow Pivot to continue to pursue its development strategy across its deep portfolio of commercial and community solar projects, the company said.
Head of originations at Fundamental Renewables Mark Domine said: “This facility for Pivot Energy underscores Fundamental Renewables’ commitment to working with industry leaders that are accelerating the transition to clean energy.
“We are excited to forge this relationship with Pivot Energy to expand their already robust portfolio, particularly in community solar projects that will have a significant impact in making solar energy more accessible throughout the country.”
Fundamental Renewables is the renewable and clean energy investment arm of Fundamental Advisors LP.
Founded in 2009, Pivot Energy is a full-service renewable energy provider that is accelerating the rapid transition to cleaner and more decentralised power generation by developing, financing, and managing commercial, community solar, and energy storage projects across the US.