Howell, NJ - June 22, 2022 (Investorideas.com Newswire) Infiniti Energy is excited to announce the closing of up to $87 million tax equity facility and $30 million construction revolver earmarked to support a growing portfolio of commercial solar projects.
Financing will support 34 MW of commercial and industrial (C&I) solar located in New Jersey, Infiniti Energy's home state. The portfolio will be comprised entirely of power purchase agreements (PPAs) for all sites. Infiniti Energy will build, own, and operate all sites working with a diverse group of solar offtakers, including retail, large multi-family residential, commercial, and industrial clients.
This closing falls on the heels of a partnership formed in 2021 with Upper Bay Infrastructure Partners (Upper Bay), investing in Infiniti Energy with a focus on the development and acquisition of solar assets.
"The Infiniti Energy team is excited about the opportunity this financing represents," said Michael Kushner, Infiniti Energy CEO. "It is an important step to expand Infiniti Energy's owned solar portfolio while positively impacting our clients, the environment, and our investors."
"Innovation and client service are built into our company DNA," Kushner added. "Working with exceptional financial partners who help us fulfill the needs of the market and clients is a huge boon to expanding our solar offerings."
Construction is underway on the 34 MW portfolio, with completion expected by the end of 2022.
About Infiniti Energy
Infiniti Energy is an experienced, agile solar Independent Power Producer providing EPC and long-term financing to select clients and to other solar companies. Infiniti personnel have over 500MW of combined experience in the public and private sectors including Fortune 100 portfolios and government entities. Through a partnership with Upper Bay Infrastructure, Infiniti provides a flexible financing platform to work collaboratively and provide uncommon power for unique clients. For more information about Infiniti Energy, please visit www.infinitienergy.com.
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