CIT Group’s power and energy business has led the refinancing of a $69 million portfolio of solar facilities owned and operated by Strata Clean Energy.
Strata is an integrated solar and storage energy service provider based in North Carolina. The portfolio consists of 21 operating solar assets located throughout the state, representing more than 130 megawatts of generation capacity. The solar assets have multiple power-purchase agreements in place.
“Financing this portfolio is another demonstration of how CIT is continuing to support Strata’s ongoing growth,” said Jimmy Chuang, CFO of Strata Clean Energy. “Once again, we appreciated their industry knowledge, expertise and agility in funding these renewable power assets.”
