Infiniti Energy secures $117M financing for NJ solar portfolio

Infiniti Energy closed a $117 million financing deal for a 34-MW commercial and industrial solar portfolio in New Jersey.

The financing consists of a $30 million construction revolver and tax equity facility for up to $87 million, Infiniti Energy said June 22. All the assets will be covered by power purchase agreements.

Infiniti Energy will build, own and operate the sites, generating power for retail, large multifamily residential, commercial and industrial clients.

Construction is expected to be completed by the end of the year.

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