Bridge Bank, a subsidiary of Bridge Capital Holdings, says it has closed $13 million in funding for several solar installations located in New Jersey, Rhode Island and North Carolina.
Bridge Bank's Energy and Infrastructure Group (EIG) provided $7.2 million in funding to True Green Capital Management for the construction of a series of solar facility installations located in New Jersey and a solar installation project in Rhode Island.
‘As a private equity investor in the distributed solar generation space, we needed to project finance several commercial roof-top solar installations in one facility,’ says Panos Ninios, partner and CEO at True Green Capital Management.
Bridge Bank also provided more than $6 million in funding to MP2 Capital for the development and construction of solar power plants located in North Carolina that provide energy to a large investor-owned utility in the U.S.
The company's EIG was formed in 2011 to provide funding to solar developers whose projects typically fall within the 1 MW to 10 MW range.