Nexamp gets US$440m debt financing for community solar and battery storage portfolio

LinkedIn
Twitter
Reddit
Facebook
Email
Nexamp builds community solar facilities of up to around 10MW per project in territories around the US. Image: Nexamp

US community solar provider Nexamp has closed a US$440 million credit facility for a 380MW portfolio of PV and energy storage assets.

The agreement marks the largest debt financing of its kind, Nexamp said, and will fund a portfolio that spans five US states and consists of nearly 100 community solar projects as well as energy storage capacity totalling 120MWh.

MUFG Union Bank served as the coordinating lead arranger for the syndicated financing, which included participation from a range of lenders.

Based in Boston, Massachusetts, Nexamp develops, acquires, builds, owns and operates solar and storage projects, and now has a customer subscriber base of more than 25,000 homes and businesses.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The lender interest in response to the new portfolio demonstrates the momentum behind the renewables industry and is a “clear validation” of Nexamp’s approach to community solar, the company’s chief financial officer, Peter Tawczynski, said.

“We have built the most progressive and accessible community solar model available today, removing many of the traditional barriers and making it simple for customers to partner with Nexamp. As we bolster our solar portfolio with energy storage solutions, we look forward to launching new products in more geographies and delivering savings to our expanding customer base,” Tawczynski added.

Nexamp, which has nearly 300 solar and storage projects in the pipeline, said the financing arrangement positions the firm for accelerated growth in the coming year.

The strong economic gains and grid benefits of scaling up distributed solar and storage in the US were revealed in a recent report, which found that installing more than 247GW of rooftop and community solar and 160GW of local energy storage is the most cost-effective way for the country to transition to a clean energy system by 2050.

This story first appeared on PV Tech.

Read Next

July 31, 2025
Sungrow has signed a 2.4GWh strategic deployment agreement for battery storage systems in Europe with solar PV solutions provider SUNOTEC.
July 31, 2025
Tesla’s Shane Bannister revealed that he doesn’t think Tesla will sell another battery in Australia that’s not grid-forming.
July 29, 2025
Tesla energy storage division saw its highest quarterly gross profits as the company’s automotive business continued to see dampened demand.
July 29, 2025
The New South Wales government has announced plans to launch a new tender seeking 500MW of firming capacity, seeking bids from battery energy storage, gas and virtual power plants (VPP).
July 29, 2025
Australia’s Clean Energy Finance Corporation (CEFC) has announced it has invested a record AU$4.7 billion (US$3.09 billion) in large-scale renewables, energy storage, and transmission projects during the 12-month period ending 30 June 2025.

Most Popular

Email Newsletter