Soltage secures $260M debt facility for US solar storage buildout

National Bank of Canada, First Citizens, BankUnited, Cadence and Siemens backed Soltage’s $260M facility to fund 250 MW solar and storage rollout across the US.

By Prudhvi Rani 11 Jun 2025 in Business Bytes

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Soltage financed 250 MW of distributed solar and storage projects from its 2 GW US pipeline with five financial partners. Image Source: Soltage

US-based Soltage, an independent power producer, has closed a $260 million construction and term debt financing facility. The funding will support solar and storage project deployment across its 2+ GW pipeline in the US. The facility included a revolving construction loan, tax equity bridge loan, and term loan. It was structured and led by National Bank of Canada with participation from First Citizens Bank, BankUnited, Cadence Bank and Siemens Financial Services. Legal counsel was provided by Foley Hoag LLP for Soltage and Norton Rose Fulbright LLP for the lenders. The financing supported near-term construction of 250 MW in distributed solar and storage projects.

#US #FirstCitizensBank #NationalBankofCanada #Soltage

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