KDC Solar secures $100 million from Highbridge to refinance facility

By Lisa Kerner

Charlotte, N.C., Nov. 25 – KDC Solar LLC closed a $100 million debt investment with Highbridge Principal Strategies, LLC.

The investment refinanced a construction facility KDC Solar had established with the Prudential Capital Group, a division of Prudential Financial Inc., for a portion of KDC Solar’s 50 MW portfolio of operating projects. It also provided capital to construct additional solar projects in New Jersey, according to a news release.

“The completion of this investment further strengthens our ability to support our portfolio of operating solar projects as well as to build additional solar projects in 2016,” said chief executive officer Hal Kamine.

KDC Solar, based in Bedminster, N.J., is the successor company to Kamine Development Corp., a developer of co-generation natural gas-fired power plants. The company is supported by an allocation of $225 million in equity from Diamond Castle Holdings, a New York-based private equity fund.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.