Agilitas Energy has secured both a construction loan and tax equity financing from 1st Source Bank, to be used towards national expansion efforts in project development.
The financing is slated to help Agilitas Energy connect renewable energy storage projects in Bristol, Vermont, and Patchogue, N.Y., to the grid. The Briston project is operational, with Vermont and Patchogue expected to go live next year.
The revolving credit facility is set to finance Agilitas Energy’s equipment acquisition costs and interconnection deposits for project development phases.
“1st Source Bank is proud to support Agilitas Energy and its full value chain business model as it continues to deliver renewable energy projects to the grid, benefiting local communities,” says Ryan Fenstermaker, division head of Solar Financing at 1st Source Bank.
“The all-in-one debt and tax equity product at 1st Source Bank, along with our flexibility and responsiveness, continues to be innovative in the marketplace, helping to advance the energy sector on a variety of asset classes and financing structures.”
