US independent power producer CleanCapital has secured a $300m (€258.4m) debt facility from Infranity to fund expansion across its renewables portfolio.
CleanCapital said the HoldCo debt financing will support the company’s continued expansion by funding the development, construction, acquisition and operations of a portfolio of distributed generation (DG) solar and energy storage assets across the US.
Thomas Byrne, CEO at CleanCapital, said: “Securing this financing is a decisive milestone that positions CleanCapital as one of the best-capitalised leaders in this sector.
“Partnering with Infranity will enhance our capabilities to develop, build, and operate solar and battery assets. This capital will accelerate the conversion of our development pipeline into high-performing operating projects – reinforcing our commitment to build and operate a best-in-class DG portfolio.”
Philippe Benaroya, CEO of Infranity, said: “CleanCapital is a top-tier owner and operator of distributed solar generation. Infranity is pleased to provide a financial solution that will enable CleanCapital’s ongoing investment and growth in the renewable energy sector.
“This investment exemplifies Infranity’s commitment to supporting energy infrastructure through disciplined, long-term partnerships with sector leaders.”
Melinda Baglio, general counsel and CFO at CleanCapital, said: “Following our recently announced debt private placement, this transaction further underscores our financial strength and our leadership in advancing scalable distributed generation assets.
“We are thrilled to partner with Infranity to help strengthen the US energy supply. The significant depth and breadth of capital we’ve secured enhances our ability to swiftly capitalise on emerging opportunities across the renewable energy sector.”
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