US solar energy project developer Ampliform has secured a loan of up to $165m (€142m) from a debt fund managed by Copenhagen Infrastructure Partners (CIP).
The Pennsylvania-based developer of utility-scale solar facilities said it has secured the financing with Green Credit Fund I (CI GCF I), CIP’s debut debt fund.
CI GCF I, which counts Danish labour-market pension fund P+ among its backers, focuses on providing private debt to support energy projects across the globe, having secured commitments totaling about $1.1bn at its final close.
Reiner Boehning, CIP partner, said: “We are thrilled to be partnering with the Ampliform team as they develop new energy supply to support economic growth and technological advancements.
“CIP, together with Ampliform, is uniquely qualified and positioned to help address the rapidly increasing power demand in several parts of the country.”
The CI GCF I loan will fund the development and construction of Ampliform’s near-term portfolio.
Carl Jackson, founder and CEO of Ampliform, said: ”This financing marks a pivotal moment for the company. Securing this capital provides us with additional resources to significantly accelerate our growth.
“We look forward to partnering with CIP as our company looks to fund construction of our near-term portfolio and support key development activities for flagship projects in our robust pipeline across PJM, MISO, NYISO and other markets.”
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