CleanCapital inks up to $200 million five-year credit agreement

By Rebecca Melvin

Concord, N.H., May 11 – CleanCapital Holdings LLC entered into a credit facility for up to $200 million to support its pipeline of distributed solar and energy storage projects, according to a company release Wednesday.

Rabobank will act as mandated lead arranger, administrative agent and collateral agent.

The facility is structured as an accordion and will grow over time to accommodate CleanCapital’s portfolio of operating solar assets. The initial anchor portfolio comprises 35 solar assets across 11 states, with a total capacity of 29 megawatts. The facility can accommodate a wide range of offtake types, including utility offtake, C&I PPAs, net metering and community solar.

Kirkland & Ellis acted as legal counsel to CleanCapital, and Norton Rose Fulbright advised Rabobank. Investment Bank Javelin Capital acted as advisor to CleanCapital on the transaction.

The clean energy investment company is based in New York.

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