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.

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

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.

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 2, 2025
Utility Ignitis Group has taken a final investment decision (FID) on three large-scale battery storage projects in Lithuania.
July 2, 2025
The Energy Security Corporation has officially launched in New South Wales, Australia, with an initial funding allocation of AU$1 billion.
June 30, 2025
Globeleq and African Rainbow Energy have reached commercial close on the 612MWh Red Sands BESS in South Africa.
June 30, 2025
Samsung C&T has submitted plans for a 100MW/400MWh BESS to Australia’s Environment Protection and Biodiversity Conservation (EPBC) Act.
June 27, 2025
ACE Power has seen a battery energy storage system (BESS) of up to 8,000MWh in New South Wales, Australia, cleared through the EPBC Act.

Most Popular

Email Newsletter