LOS ANGELES–(BUSINESS WIRE)–8minute Solar Energy (8minute) announced that the company has closed a $225 million letter of credit (LC) facility from a consortium of five banks, led by CIT as sole coordinating lead arranger with partners KeyBank, HSBC, Rabobank and Nomura Holdings. 8minute will use the LC facility to cost effectively post securities for its power purchase agreements (PPAs) and interconnection agreements for its 18-gigawatt (GW) pipeline of solar and storage projects throughout California, Texas and the Southwestern United States.

“In this challenging time, 8minute is pleased to continue to receive increasing investment and financing to help us deliver on our rapidly expanding pipeline,” said Dr. Tom Buttgenbach, President and CEO of 8minute. “We are glad to continue working with core financial partners

Read More At Article Source | Article Attribution