US-based Pivot Energy announced it has secured $225mn in financing from three existing lenders to accelerate the rollout of distributed solar energy projects. The funds will primarily support the construction of 60 community solar projects with a combined capacity of 225 megawatts, as well as the acquisition of domestically manufactured equipment.
The financing includes a $170mn upsize to an existing construction warehouse facility provided by Atlas SP and First Citizens Bank. This line will support project deployment in nine states: Illinois, Colorado, Maryland, Virginia, New York, Pennsylvania, Delaware, Michigan, and California.
A diversified financing strategy
The package also includes a $40mn equipment facility from First Citizens Bank to purchase solar panels produced by Canadian firm Silfab Solar Inc. An additional $15mn corporate credit facility was provided by Comerica Bank, bringing Pivot’s total financing in 2025 to $435mn.
This new round of funding comes despite an uncertain federal regulatory environment, which has not diminished investor appetite for distributed solar assets. Backed by private equity firm Energy Capital Partners, Pivot Energy continues to expand through local-scale projects designed to meet growing electricity demand.
Enhanced deployment capacity
Pivot Energy Chief Executive Officer Tom Hunt welcomed the renewed trust from its banking partners, emphasising the importance of long-term partnerships in the sector’s growth. He stated that the company would continue to develop distributed projects that contribute to grid reliability and reduce energy costs.
Spencer Hunsberger, Head of Energy Origination at Atlas SP, said the warehouse facility expansion enables Pivot to enter a new growth phase. Mike Lorusso, Head of Energy Finance at First Citizens Bank, added that the deal also secures investment tax credits and strengthens Pivot’s long-term deployment capacity.
