Infiniti Energy Raises $117 Million to Support Solar

panneaux solaires

U.S.-based Infiniti Energy closes $117 million in solar financing. To be exact, the company has raised $87 million. The $30 million is from a construction credit.

New solar projects for Infiniti Energy

In fact, the funding will support 34 MW of commercial and industrial solar projects located in New Jersey. The portfolio consists of power purchase agreements for all sites.

As such, Infiniti Energy will build, own and operate all sites working with multiple solar energy providers.

A partnership with Upper Bay Infrastructure Partners

This closing follows a partnership formed in 2021 with Upper Bay Infrastructure Partners. As such, Upper Bay is investing in Infiniti Energy with a focus on solar asset development and acquisition.

According to its CEO, Michael Kushner:

“The Infiniti Energy team is excited about the opportunity this financing represents. In addition, it is an important step in expanding the solar portfolio held by Infiniti Energy while making a positive impact on our customers, the environment and our investors.”

Before adding:

“Innovation and customer service are in our company’s DNA. So, working with financial partners who help us meet market and customer needs is a huge asset in growing our solar offering.”

Construction of the 34 MW portfolio is underway and is expected to be completed by the end of the year. In total, Upper Bay has committed to invest more than $260 million in commercial solar through direct investments in the company’s projects.

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