🚀 Maiden Investment! Sumitomo Corporation of Americas (SCOA) achieved a significant milestone by closing a $40mn tax equity deal for 27 MW of solar PV and 25 MWh of battery storage, with Pacifico Energy Group. The move was part of a $93mn financing package, which also included a $29mn deal with Mitsubishi UFJ Financial Group for a construction-to-permanent debt facility and $24mn transferability bridge loan.
🌞 Solar C&I Progress! The portfolio features a mix of community solar developments in Massachusetts, under the Solar Massachusetts Renewable Target (SMART) program, aimed at benefitting low-to-moderate income households, and behind-the-meter projects in California designed for commercial and industrial (C&I) customers.
🌍 Peer Activity! Pacifico Energy joins peers DSD Solar, Pivot Energy and Radial Energy, who have cumulatively raised more than $300mn in tax equity commitments encompassing both asset and portfolio-level turn-key integrated solar C&I solutions, over the past 3 years!
The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.
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