Sol Systems has secured $675 million revolving construction finance facility for its solar and storage projects portfolio. The facility will support the initial 500 MW of projects planned in Illinois, Ohio, and Texas. The first set of projects are anticipated to come online by the end of 2026.
The arrangement of the facility was ensured with the support of KKR Capital Markets, which acted as the structuring and placement agent to the company. Furthermore, the group of lenders includes Banco Bilbao Vizcaya Argentaria, S.A., ING Capital LLC, Intesa Sanpaolo S.P.A., National Australia Bank Limited, NatWest, and Natixis.
Earlier in January 2025, Sol Systems achieved financial close and commenced construction on a $345 million solar project with a capacity of 182 MW. This project is called the Tilden project. The project is expected to generate clean energy sufficient to power nearly 33,800 homes annually in Illinois.
