Pivot Energy has closed a $173 million term loan facility covering a portfolio of 51 community-scale solar projects totaling 135 MWdc across six US states. First Citizens Bank, Huntington Bank and BankUnited provided the takeout financing.
The facility refinances projects previously held in Pivot Energy’s construction warehouse and combines the company’s first three portfolios under a single term structure. The transaction marks Pivot Energy’s first term loan financing and releases capacity in its revolving construction facility for additional project construction.
Founded in 2009 and headquartered in Denver, Colorado, Pivot Energy develops, finances, builds, owns and manages solar and energy storage projects. The company operates as an independent power producer focused on commercial and community-scale renewable energy projects and is a Certified B Corporation.
Pivot Energy was acquired by Energy Capital Partners in June 2021.
