Clearway completes financing of Community Solar Fund V

Clearway Energy Group has closed financing on its Community Solar Fund V - a diversified portfolio of 21 projects totaling 76 MWdc across Illinois, Massachusetts, Minnesota, and New York. 

CIT acted 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 also arranged tax equity financing for the portfolio with an undisclosed party.

Most of the Community Solar Fund V projects are expected to be operational by 2020.