BlueWave, a solar company in the Northeast US, raised $118.2 million for its community solar projects in Maine. This included $48.2 million in debt financing from City National Bank and $70 million in tax equity funding from First American Commercial Bancorp, Inc. The funds support four solar projects. The portfolio, part of Maine’s Net Energy Billing program, provided bill savings to residents and businesses while adding 22.7 MW (DC)to the grid. Construction was completed in 2024. A previous funding round supported five solar projects in Massachusetts under the SMART program. BlueWave was advised by Novogradac, KPMG, and Foley Hoag, LLP.