Infrastructure investment firm Infranity has finalised a $50m (€43.9m) financing facility with Redball Energy, a US-based solar developer.
The financing is designed to support the partial refinancing of existing debt while providing additional capital to fund the construction of new solar projects, Infranity said in a statement.
The transaction will enable Redball Energy, which owns and operates distributed solar assets across the eastern region of the US, to continue expanding its portfolio and strengthen its position as a key contributor to the deployment of distributed renewable energy infrastructure in the country, the firm added.
Sacha Kamp, head of debt investment at Infranity, said: “We are pleased to support Redball Energy in the next phase of its growth. The company has built a high-quality portfolio of distributed solar assets in attractive US markets. Redball has demonstrated a differentiated ability to efficiently originate, finance and operate a large number of small-scale projects.”
Infranity said the investment was aligned with the company’s strategy of supporting resilient and essential infrastructure, adding that by financing a diversified portfolio of distributed solar assets, it was helping expand access to clean, reliable, locally generated power while enhancing energy resilience for households and communities.
Greg Schmidt, CFO of Redball Energy, said: “This $50m facility is an important milestone for our company and we are grateful to Infranity for the strong validation of the platform, operating discipline and long-term value we have built.
“This gives us additional capacity to invest in growth, enter new markets, and continue innovating while maintaining the financial rigor required to scale responsibly. And as importantly, it will help us bring affordable, reliable power to more customers and accelerate our goal of expanding access to clean energy, “ Schmidt added.
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