9. INDUSTRY, INNOVATION, AND INFRASTRUCTURE

Longroad Arranges Financing for Large California Solar Portfolio – Financial Post

Longroad Arranges Financing for Large California Solar Portfolio  Financial Post

(Bloomberg) — Longroad Energy arranged financing for a 215-megawatt portfolio of solar projects under construction in California.

KeyBanc Capital Markets Inc. and Banco Santander SA were coordinating lead arrangers for $333 million in credit facilities, according to a statement. U.S. Bancorp is the tax-equity investor.

The California portfolio, called Little Bear Solar, totals four projects in Fresno County expected to be completed by year-end.

Two Danish pension funds, PKA and PenSam, represented by their investment manager AIP, are investing in 50% of the equity interests in Little Bear Solar and Prospero I Solar, a 379-megawatt project in Andrews County, Texas. Prospero I is slated to come online in the second quarter.

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Source: business.financialpost.com

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