Sustainable Infrastructure
Revolv secures $25 million in project financing for EV fleets
Revolv, a leading full-service provider of electric commercial fleets, today announced it has raised $25 million in equity project financing to fund the deployment of fleet electrification projects in the United States. Made possible by a commitment from Greenbacker Capital Management through an affiliated investment vehicle focused on sustainable infrastructure, the new Revolv facility will be the first dedicated non-recourse financing facility for commercial EVs and charging stations in North America.
Greenbacker commits to exclusive, long-term recycling partnership with SOLARCYCLE
SOLARCYCYCLE was chosen as a partner because the recycler can meet Greenbacker’s rigorous sustainability and compliance goals for retired solar panels, including rapid testing for overall health and potential reuse of panels; low-cost, eco-friendly recycling to extract core materials; and advanced tracking and reporting of sustainability metrics.
Greenbacker partners with RBC Community Investments to complete one of clean energy industry’s first solar PTC deals
The $148 million financing commitment—one of the first ever tax equity deals to utilize the solar production tax credit—will help finance Greenbacker Capital Management’s largest solar power project to date: the 240 MWdc Appaloosa Solar project in Iron County, Utah.
Greenbacker acquires largest standalone energy storage project to date
With a total power capacity of 30 MW and the ability to store up to 120 MWh of energy, the to-be-constructed Holtville BESS project can store enough energy to power over 4100 homes for a 24-hour period. It’s also now the largest standalone battery storage asset in Greenbacker’s clean energy fleet.
Growth Capital
Revolv secures $25 million in project financing for EV fleets
Revolv, a leading full-service provider of electric commercial fleets, today announced it has raised $25 million in equity project financing to fund the deployment of fleet electrification projects in the United States. Made possible by a commitment from Greenbacker Capital Management through an affiliated investment vehicle focused on sustainable infrastructure, the new Revolv facility will be the first dedicated non-recourse financing facility for commercial EVs and charging stations in North America.
Greenbacker Principal Quinn Pasloske discusses infrastructure investment opportunities in the energy transition, including the company’s first investment in green molecules
Quinn Pasloske joined the Invested in Climate podcast alongside Ben Hubbard, CEO of Nexus PMG, a Greenbacker Development Opportunities strategy partner. The conversation examined the role of infrastructure investment in the energy transition, particularly in the emission reduction and waste elimination infrastructure sectors, as well as the partnership that led to the strategy entering the green molecule space.
Greenbacker Development Opportunities expands private equity investment team
Greenbacker Capital Management is pleased to announce that it has expanded its private equity investment team, hiring Rahul Bhalodia as a managing director of the Greenbacker Development Opportunities strategy. Bhalodia augments the firm’s ability to continue scaling the strategy, which invests in growth-stage sustainable infrastructure development platforms. Additionally, new associates Lea Beylot-Lacroix and Rushabh Nahar will support the strategy’s efforts to identify and partner with leading development teams, fund their growth, and help them scale into mature platforms.
Telyon announces investment from Greenbacker Capital Management
Greenbacker has completed a strategic investment to acquire a significant minority stake in Telyon, a Connecticut-based renewable energy development firm specializing in the origination, financing, construction, and ongoing operations and maintenance of onsite solar, community solar, battery storage and electric vehicle charging infrastructure projects across the US.
Sustainable Real Estate
Greenbacker hires new Head of Real Estate Investments
Greenbacker Capital Management is pleased to announce that David Zackowitz has been hired as the firm’s new Head of Real Estate Investments. He will lead GCM’s fourth sustainability driven investment strategy, focused on acquiring commercial and residential property where the company can reduce emissions and energy use intensity, as well as add additional sources of renewable power.
Corporate Financing
Greenbacker secures $75 million in warehouse facility financing
Greenbacker has closed on a new warehouse financing facility in an initial aggregate principal amount of $75 million, with the potential to increase up to $250 million. Greenbacker will deploy borrowings from the facility into investments across its solar, solar-plus-storage, and standalone energy storage portfolios.
Greenbacker partners with RBC Community Investments to complete one of clean energy industry’s first solar PTC deals
The $148 million financing commitment—one of the first ever tax equity deals to utilize the solar production tax credit—will help finance Greenbacker Capital Management’s largest solar power project to date: the 240 MWdc Appaloosa Solar project in Iron County, Utah.
Greenbacker closes new $150 million senior secured sustainability revolving credit facility
Greenbacker announced that it completed the closing of a new $150.0 million senior secured sustainability revolving credit facility. The closing of the credit facility reaffirms Greenbacker’s position among renewable energy companies as a well-capitalized owner and operator with access to capital through market cycles.
Greenbacker secures $186 million credit agreement with KeyBank and Fifth Third Bank
Greenbacker has entered into a senior credit agreement with KeyBank N.A. and Fifth Third Bank. The transaction is one of Greenbacker’s largest standalone debt financings to date, providing a construction loan facility to build two of the biggest solar projects in company history.