CleanChoice lands up to $85M credit facility for solar push
What's the deal? CleanChoice Energy has closed an up to $85 million term loan facility from Aiga Capital PartnersDealroom has a profile for this one. Try Dealroom →, an institutional investor that finances North American sustainable infrastructure. The Washington-based company will use the funds to expand into solar generation and build new projects.
Why now? CleanChoice is shifting from its retail roots — selling clean energy to consumers — into generating power for the grid. "This financing helps us sustain momentum as we evolve into a new chapter of our business," said chief executive officer Tom Matzzie.
What's the endgame? Founded in 2012, CleanChoice owns, operates, and develops solar projects across the Northeast and Mid-Atlantic. It is pairing its retail electricity platform with a growing solar pipeline, a vertically integrated model Aiga called "a differentiated path to scale."
The facility follows a $166 million project financing raise for CleanChoice's second and third solar projects. It is designed to keep the development platform moving while preserving flexibility to pursue project-level capital as assets mature.
By the numbers: The round sits in the top fifth of deals by size, a sign that lenders are backing established developers rather than early-stage bets.
JLL SecuritiesDealroom has a profile for this one. Try Dealroom → advised CleanChoice, with Sidley AustinDealroom has a profile for this one. Try Dealroom → as legal counsel. Norton Rose FulbrightDealroom has a profile for this one. Try Dealroom → acted for Aiga. CleanChoice is majority-owned by funds managed by True Green Capital ManagementDealroom has a profile for this one. Try Dealroom →.
The signal: Debt — not equity — is flowing to clean energy firms with proven platforms and real project pipelines, as developers race to meet surging demand for grid power.
Read more: Business Insider
Image credit: peretzp
