Hamilton-based Infiniti Energy has closed on an $82.9 million structured finance facility with Fifth Third Bank to support a growing portfolio of commercial solar projects slated for construction in 2024.
The construction facility is being financed through Fiera Private Debt and Flagstar Bank is providing the tax equity.
The financing will support the development, construction and operation of 21 megawatts of commercial and industrial solar projects located in New Jersey, California and Illinois.
Infiniti Energy will build, own and operate all sites under power purchase agreements with a diverse group of solar offtakers, including retail, commercial and industrial clients.
“The Infiniti team is excited to build on our expanding partnership with Fifth Third Bank and welcome the opportunity to work with Fiera and Flagstar to support our growing portfolio,” Michael Kushner, Infiniti Energy CEO, said. “The projects that Infiniti owns and operates continue to generate affordable and sustainable solar energy for our clients while contributing to our country’s renewable transition.”
Development of the projects is already underway, and completion of the portfolio is expected this year.
