OYA Renewables Closes US$216M in Construction-to-term Loans and Tax Equity Commitments for New York Community Solar Development Pipeline
OYA Renewables (“OYA”), a leading energy transition solutions platform, today announced that it has secured a total of US$216M in financial backing for the construction of a slate of 15 community solar development projects throughout New York State which included project funding with Monarch Private Capital (MPC) in the form of a tax equity investment. The investment will see MPC participate in the funding of OYA’s slate of 2023 projects via their ESG-oriented impact funds.
- US$145M Construction-to-term loan led by CIT, a division of First Citizens Bank & Trust Company
- US$71M Tax Equity Commitment secured with Monarch Private Capital
- Proceeds to be used to finance the construction of 15 New York State-based community solar development projects
“We are grateful for the opportunity to partner with OYA on community solar investments in New York State. Our shared commitment to renewable energy has allowed us to make meaningful progress towards creating a sustainable future. As we continue to expand our renewable energy division, we are proud to accelerate the Nation’s energy transition alongside such dedicated and visionary partners.”Brent Barringer, Partner, Managing Director LIHTC & Renewables at Monarch
Read the full release.
Monarch Private Capital Finances New 113 MW Solar Energy Installation in Texas
Aug 29, 2022
Longbow Solar will deliver clean power to Brazoria County, promoting economic growth and a healthy environment Monarch Private Capital, a nationally recognized ESG investment firm that develops, finances and manages […]
ESG Investing: Where it is Now; Where it’s Headed; What to Do
Jun 13, 2022
Published by Michael Novogradac on Wednesday, June 1, 2022 The expanding awareness and interest in ESG–environmental, social and governance–investing could lead to a seismic increase in investor demand for community development tax incentives, […]
White House to Halt Solar Import Tariffs
Jun 7, 2022
The Federal Government is working with the private sector to promote the expansion of domestic solar manufacturing capacity, including our capacity to manufacture modules and other inputs in the solar supply chain […]