Webcast ReviewsJohnson v Firstrand et al: What the auto finance ruling means for all broker-introduced business
Equipment Finance News CIT leads $42.8 million financing for New York solar initiative Published: 6th February 2020 Share CIT Group’s power and energy division has arranged $42.8 million in debt financing to support NY Solar Farms, a 70-megawatt community solar portfolio in New York State. The portfolio is one of the largest of its type and includes 10 projects across six different sites, which are owned by a fund operated by True Green Capital. True Green Capital funds have approximately 400 megawatts of solar projects operating, with 200 megawatts under construction or development. Debt financing for the portfolio was also provided by NY Green Bank, a state-sponsored finance company working to increase investments into New York’s clean energy markets. Chris Kirkman, head of project finance at TGC, said: “Community solar projects are an important pillar of New York’s clean energy strategy. “The NY Solar Farms portfolio is another example of how solar projects can support local economies and power homes and businesses while reducing our reliance on fossil fuels.” CIT’s power and energy arm is part of its commercial finance division, focused on renewable and conventional power generation. The unit manages a large portfolio that includes investments in all asset classes across the energy sector. Asset Finance Connect Asset Finance Connect brings you news and updates about UK and European auto, equipment and asset finance providers. Sign up to our newsletter Featured Stories NewsUS equipment finance confidence hits three-year high NewsAlba Leasing and Banca Sistema announce partnership NewsDLL and Kempower partner to drive EV charging accessibility Equipment Finance
