Aggreko secures $66 million for solar projects in Stamford, Sept 2024

Aggreko Energy Transition Solutions (ETS) has successfully secured $66 million in financing for a diverse portfolio of solar projects totaling 88.5 megawatts (MWdc). This portfolio spans across New York, Texas, and California, catering to a variety of customers, including utilities, corporations, and low- to moderate-income consumers. The financing is structured as a delayed-draw term loan, which aligns with the completion milestones of the projects, allowing for effective management of acquisition and construction costs. KeyBanc Capital Markets played a pivotal role in this transaction, serving as the administrative agent and leading the financing efforts. The collaboration between Aggreko and KeyBank highlights their long-standing relationship and commitment to advancing renewable energy solutions. Jerry Polacek, President of Aggreko ETS, expressed enthusiasm about the financing, emphasizing its importance in supporting the growth of their commercial and community solar portfolios. The funds will enable Aggreko to reinvest in future solar and battery storage projects, demonstrating the company's dedication to providing affordable and clean energy solutions. This financing marks a significant step in Aggreko's strategy to expand its renewable energy offerings and contribute to the energy transition in the United States. As the demand for sustainable energy solutions continues to rise, Aggreko's initiatives reflect a broader trend in the energy sector, where companies are increasingly focusing on renewable resources to meet customer needs and regulatory requirements. The successful closing of this financing is expected to bolster Aggreko's position in the competitive energy market.