Ameresco PV Holdings, owner of a portfolio of solar developing companies, announced this Thursday it has secured a $44,8 million investment from Prudential Private Capital. The funding includes $40.7 million of senior secured fixed-rate notes; $4.1 million of second lien floating rate notes, and also an undrawn Pru-Shelf facility with $60.0 million.
Firstly, Ameresco PV Holdings owns 14 operating solar project companies that own projects at 27 different locations across the United States; while Prudential Private Capital is a leading source of private debt for public and private companies. It is in fact the private capital arm of PGIM; a $1.5 trillion global investment management business of Prudential Financial, Inc.
The funds provided to the solar company would secure its growth in a fast-growing market. Doran Hole, chief financial officer of Ameresco, said about the matter. “This significant financing extends our ability to diversify and expand our portfolio of solar assets throughout North America.”
“Prudential’s confidence in Ameresco’s mission as a cleantech integrator supports our shared vision for growth in sustainability in the coming years.” He also remarked.
On the other hand, Wendy Carlson, managing director; also head of Prudential Private Capital’s Power group, said. “Our experience financing commercial and industrial portfolios positioned us well to serve as a trusted lender for Ameresco and provide streamlined execution.”
Also recommended for you: Nikola and TC Energy partner up for hydrogen hubs in U.S. and Canada. Click here to read.
Ameresco nearing customers to the net-zero ambition
She also remarked that the deep experience and also proven track record of her company in project financing is the foundation of the partnership. Ameresco, on the other hand, is a solid company. Its portfolio includes energy efficiency, infrastructure upgrades, asset sustainability, and also renewable energy solutions.
By integrating all of those into a reliable platform of services, the company has helped its customers to get near the net-zero ambition. The company has done upgrades to a facility’s energy infrastructure; also develops, builds, and operates distributed energy resources.
Overall, Ameresco has successfully completed energy saving, environmentally responsible projects with federal, state, and local governments, healthcare and educational institutions; also, housing authorities, and commercial and industrial customers.
Finally, Prudential Private Capital has provided customized capital solutions to enable companies to achieve growth targets for over 100 years. It has regional teams in 15 offices around the world and manages a portfolio of $100.2 billion for its partners.