Tuesday, December 22, 2020

8minute Solar Energy Ups Credit To $350M

Los Angeles-based solar power project developer 8minute Solar Energy said today that it has upsized a letter of credit it received, upping the originally $225M letter of credit and revolving credit facility to $350M. The company said the additional $125M in the facility comes from includes new lenders Deutsche Bank, Landesbank Hessen-Thuringen (Helaba), and Norddeutsche Landesbank (NORD/LB). The company said that funding will go to help accelerate development of its pipeline, which currently includes more than 18-gigawatts (GW) of solar capacity and 24-gigawatt-hours (GWh) of energy storage. The company's projects are located in California, Texas, and elsewhere in the Southwestern US.