KDC Solar Closes Project Portfolio Financing With U.S. Bank

KDC Solar LLC, a Bedminster, N.J.-based developer of large-scale behind-the-meter commercial solar projects, has closed its most recent financing for a portfolio of projects in New Jersey through a wholly owned subsidiary.

The financing, provided by a subsidiary of U.S. Bancorp, provides long-term renewable energy tax equity financing for multiple distributed-generation, net-metered solar projects, the first two of which total approximately 7 MW.

The first installation in the portfolio – a 3.25 MW rooftop-mounted solar system at a warehouse in Cranbury, N.J. – was completed on Nov. 14. The second installation – a 3.5 MW rooftop-mounted solar system at a warehouse in South Brunswick, N.J. – is expected to be completed later this month or in early 2012.

Reznick Group, collectively with Reznick Capital Markets, acted as adviser to KDC Solar.Â

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