First Citizens, Huntington, BankUnited provide $173 million loan for Pivot Energy solar portfolio
Pivot Energy closed a $173 million term loan facility for a 135 MWdc distributed solar portfolio spanning 51 community-scale projects.
1. Portfolio financing
First Citizens BancShares participated in the financing alongside Huntington Bank and BankUnited. Proceeds refinanced projects from Pivot’s construction warehouse, consolidated three portfolios into a single term structure and increased capacity under Pivot’s revolving construction facility to support additional project builds.
