Clearway Energy Group completes financing on its Community Solar Fund 7

Clearway Energy Group has closed more than US$195 million of debt financing for its Community Solar Fund 7 – a diversified portfolio of 12 projects totaling 71 MWdc that will serve commercial and industrial customers and around 3,600 residential customers across Illinois and Massachusetts.

For the debt financing, Fifth Third Bank and KeyBanc Capital Markets acted as Coordinating Lead Arrangers and Joint Bookrunners, while MUFG Union Bank served as Joint Lead Arranger and Joint Bookrunner for construction and term debt financing.

Community solar offers financing partners participation in diverse, long-dated cash flows from residential, commercial, and municipal customers in addition to state-backed incentives – all with the low-risk operating performance of a utility-scale project.