CRCMS Advises sPower on Close of $434MM in Tax Equity and Debt Financing for Beacon Solar Projects
sPower, the largest private owner in the United States of utility-scale solar operating assets, announced the November 2, 2016 completion of a tax equity investment and construction/term loan totaling $434 million.
KeyBanc Capital Markets Inc. acted as Coordinating Lead Arranger, with the debt facility provided by CIT Bank, N.A., CoBank ACB, Coöperatieve Rabobank U.A., KeyBank N.A., Norddeutsche Landesbank Girozentrale (Nord/LB) and Siemens Financial Services, Inc. PNC Energy Capital and U.S. Bancorp Community Development Corporation partnered in this landmark deal to provide tax equity. CohnReznick Capital Markets Securities (CRCMS) advised sPower on the transactions.
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Logo Credit: sPower