Bridgelink locks in $200m in debt to fund solar growth

April 13 (Renewables Now) — Texas-based renewable energy developer and operator Bridgelink Power has secured a revolving credit facility of up to $200 million (€183.5 million) to support its renewable energy development portfolio. advanced-stage solar projects and acquiring new assets.

The senior secured debt was extended by private credit manager Crayhill Capital Management LP, Bridgelink said on Tuesday.

Fresh capital will support capital expenditures for large-scale projects before they enter construction, such as the payment of down payments related to the purchase of equipment. Additionally, Bridgelink will use a portion of the proceeds to acquire pre-construction projects and bring them into commercial operation.

“We appreciate Crayhill’s flexibility and creativity in structuring a partnership that will accelerate our pipeline growth across the United States. [..]”said Eric Solomon, chief investment officer of Bridgelink.

Bridgelink has more than 10 GWp of solar, storage and solar hybrid storage projects under development in the Electric Reliability Council of Texas (ERCOT), PJM Interconnection (PJM) and Midcontinent Independent System Operator (MISO) market areas. The portfolio includes 1,000 MWh of stand-alone battery storage systems, the company noted.

(1.0 USD = 0.917 EUR)

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