(Bloomberg) -- CleanCapital and funds managed by CarVal Investors arranged $300 million in debt financing that helped the New York-based renewables company buy its biggest solar portfolio yet.
Credit Suisse Group AG provided the financing, known as a debt-warehouse facility, according to a statement Thursday. Terms weren’t disclosed.
CleanCapital acquired a 75-megawatt portfolio of operating solar assets in New Jersey from KDC Solar LLC. The deal is the fourth made through its $250 million partnership with CarVal, Cargill Inc.’s asset-management unit. The portfolio is comprised of 15 projects.
New York-based CleanCapital now owns and operates 180 megawatts of renewables and manages $465 million worth in assets. It aims to buy as much as $1 billion of additional assets by the end of next year, said Chief Executive Officer Thomas Byrne.
(Updates with Carval in the first paragraph and the number of projects in the third)
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