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.