Greenskies finalizes finance for $165m US solar projects

Greenskies Renewable Energy LLC – an integrator of solar projects headquartered in Connecticut – has closed financing on a $165 million package that will see the creation of 127 solar projects across 12 U.S. states.

From Maine to California, Greenskies will work develop solar installations that will collectively generate 85 GWh of electricity each year. Financing for the project comes via First Niagara Financial Group, and is the sixth round of financing between the two entities.

First Niagara is a multi-state bank that operates from 390 locations across the northeast of the U.S. Greenskies, which has seven years’ experience of developing solar PV projects, will use the funds to design and construct a range of commercial solar installations and arrays for municipal customers.

"This particular financing vehicle allows Greenskies to leverage additional capital and accelerate the distribution of green renewable energy throughout not only New England, but the entire nation," said First Niagara VP and senior relationship manager, Peter J. Thomas.