RET Capital Closes Financing For Ontario Solar Project


San Francisco-based Renewable Energy Trust Capital Inc. (RET Capital) has closed C$66 million of nonrecourse debt to support the acquisition of the CityLights solar facility from Canadian Solar Inc.

RET Capital previously announced the close of financing with NORD/LB Norddeutsche Landesbank Girozentrale in Hannover, Germany, and Babson Capital Management in connection with the acquisition of the 12.6 MW DiscoveryLight and 14.2 MW FotoLight facilities.

Power from RET Capital's three plants in Ontario is being sold to the Independent Electricity System Operator under a 20-year feed-in tariff contract.

RET Capital's lead investor is BlueMountain Capital Management LLC, an investment firm focused on the global credit markets and equity derivatives markets.

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