US-based Genie Energy Ltd., a renewable energy provider, closed a $7.4 million fixed-rate term loan with National Cooperative Bank (NCB) to finance a 10 MW solar portfolio. The solar arrays, acquired through Genie’s Sunlight Energy subsidiary will supply power to educational facilities in three Midwestern states under fixed-price PPAs. The financing aims to optimize equity returns, enhance profitability, and support future renewable energy developments. Additionally, Genie Renewables pipeline includes 96 MW of projects, with two utility-scale projects under construction, 17 in pre-construction stages.
Genie Energy secures $7.4M loan from NCB for 10 MW PV projects
Genie Energy secured $7.4M financing from NCB for 10MW solar arrays powering Midwest schools under fixed-price PPAs. (Image Credit/Source: Kelly/Pexels)
AfDB funded two 15 MW solar plants in Chad to generate 61 GWh annually and cut emissions by 49,000 tons per year. (Image Credit/Source: LCEC/Pixabay)
Algeria and GE Vernova discussed 15 GW renewable energy projects, including solar, as Sonelgaz led talks in Atlanta. (Image Source:Zawya)
LRE powered up Morrow Lake Solar, supplying 200 MW to Microsoft with innovative solar tech and eco-friendly land use. (Image Credit/Source: StockSnap/Pixabay)
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