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Clearway Energy closes financing on community solar fund

Clearway Energy Inc. on Jan. 16 said it has closed financing on its Community Solar Fund V, which represents a portfolio of 21 projects totaling 76 MWdc in Illinois, Massachusetts, Minnesota and New York.

CIT served as coordinating lead arranger and sole bookrunner, while KeyBanc Capital Markets and Silicon Valley Bank served as joint lead arrangers for the construction and term debt financing.

Clearway Energy said it also arranged tax equity financing for the projects with an unnamed party.

Majority of the Community Solar Fund V projects are expected to be placed in service this year.