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					</table><p><a href="https://generatecapital.com/" target="_blank" rel="noopener">Generate Capital</a>, an investor, owner, and operator of critical infrastructure, has closed a $117 million term debt facility with MUFG to finance 18 community solar projects totaling 114 MW across Illinois and New York.</p>
<p>The financing supports Generate’s Community Solar Fund 11 and marks the company’s first community solar financing with MUFG. According to Generate, the transaction also expands its community solar infrastructure.</p>
<p>“We are pleased to partner with Generate on this financing and support the continued growth of its community solar platform,” said Fred Zelaya, Managing Director at MUFG. “Generate has built a strong track record of developing and operating high-quality distributed energy assets, and this transaction reflects our shared commitment to financing critical infrastructure that delivers reliable, affordable power to communities across the country.”</p>
<p>The transaction follows other financings that the company completed in 2026. During the first half of the year, the company closed approximately $1.4 billion in financing commitments across community solar, battery energy storage, and energy efficiency investments.</p>
<p>Among those transactions, Generate closed a 104 MW community solar portfolio alongside Monarch Private Capital. According to Generate, the portfolio includes more than 15 community solar projects expected to deliver approximately $200 million in investment tax credits.</p>
<p>According to the release, the company also completed a $61 million senior secured U.S. private placement to finance energy efficiency projects for an investment-grade industrial customer. The 15-year construction-to-term financing was Generate’s first 4(a)2 U.S. private placement.</p>
<p>Announced large-scale solar project funding increased by 71% in the first half of 2026 compared with the funding raised in the same period in 2025, according to Mercom’s recently released 1H and Q2 2026 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/1h-and-q2-2026-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>.</p>
<p>In July, Nadara, an independent power producer, <a href="https://mercomcapital.com/nadara-secures-1-4billion-refinancing-for-renewable-portfolio/" target="_blank" rel="noopener">closed</a> a pan-European refinancing valued at approximately €1.2 billion (~$1.4 billion) for a 1.5 GW portfolio of operating wind and solar assets. The transaction covers 47 renewable energy projects in Italy, the U.K., France, Spain, Sweden, Norway, and Finland.</p>


Generate Capital Secures $117 Million Debt for 18 Community Solar Projects

<p><a href="https://generatecapital.com/" target="_blank" rel="noopener">Generate Capital</a>, a sustainable investment and operating company, and <a href="https://www.key-state.com/" target="_blank" rel="noopener">KeyState Renewables</a>, an investment firm, announced the close of their third joint fund, Generate NY Community Solar VI. The closed fund includes a $64 million investment from KeyState, which will be used to develop and manage 11 projects in New York with a total capacity of 53.5 MW.</p>
<p>KeyState’s SOLCAP solar tax credit fund platform will finance the projects. Once operational, these projects are expected to produce around 76.48 million kWh of solar energy in their first year, enough to power up to 10,544 households.</p>
<p>“Accelerating the sustainable infrastructure transition requires investors to find creative ways to finance and deliver clean energy projects. We are thrilled to continue our work with KeyState on our tax equity partnership for community solar and provide the latest proof of the growing demand for renewable energy investment,” said Peggy Flannery, Managing Director at Generate Capital. “This ongoing partnership has allowed us to continue to scale our community solar assets and better serve our developer, customer, and community stakeholders in New York.”</p>
<p>This May, Catalyze, a solar and energy storage project developer, <a href="https://cms.mercomindia.com/catalyze-secures-100-million-financing-for-community-solar-projects/" target="_blank" rel="noopener">secured</a> $100 million in financing from NY Green Bank, a division of the New York State Energy Research and Development Authority (NYSERDA), for the development of a 79 MW portfolio of community distributed generation solar projects across New York State.</p>
<p>According to Mercom’s 1H and Q2 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-and-q2-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, the renewable energy sector is witnessing significant growth. Large-scale solar project funding in 1H 2024 came to $19.9 billion in 117 deals compared to $14.9 billion in 113 deals in 1H 2023, indicating a promising future for the industry.</p>


Generate & KeyState Close 53.5 MW Community Solar Projects’ Investment Fund


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					</table><p>Sustainable infrastructure investment and operating platform <a href="https://generatecapital.com/" target="_blank" rel="noopener">Generate Capital</a> has announced strategic growth capital and asset financing of $500 million to renewable energy project developer <a href="https://pinegaterenewables.com/" target="_blank" rel="noopener">Pine Gate Renewables</a> to expand the latter&#8217;s utility-scale solar and energy storage projects.</p>
<p>The credit facility comprises a $200 million equity investment and a $300 million commitment to a long-term asset partnership for solar project financing. Generate Capital would join Pine Gate&#8217;s Board of Directors through the collaboration.</p>
<p>Pine Gate said it would direct the investment of $300 million into the construction and development of clean energy projects besides meeting its other general working capital purposes.</p>
<p>Foley &amp; Lardner was the transaction&#8217;s legal adviser for Generate Capital, while DNV GL was the technical adviser. Lazard served as financial adviser for Pine Gate in the deal, and Gibson, Dunn &amp; Crutcher was the legal adviser.</p>
<p>Generate Capital&#8217;s CEO Scott Jacobs said, &#8220;Pine Gate team has a strong track record of execution and growth and an innovative operating model that enables them to move fast to build projects across important solar and storage markets. We are excited to partner with this best-in-class team and support Pine Gate&#8217;s continued expansion and market leadership.&#8221;</p>
<p>Pine Gate owns and operates over 1 GW of renewable energy projects, with over 20 GW of active projects under development across the country. The company has raised over $1 billion in corporate and project capital financing in the past six months.</p>
<p>&#8220;Generate Capital is a collaborative, experienced partner and shares our long-term vision of driving the energy transition and improving energy security by providing solar energy and battery storage to local communities across the country. We are well-positioned as we continue to expand our national presence,&#8221; said Ben Catt, Pine Gate&#8217;s CEO.</p>
<p>Earlier this year, Pine Gate <a href="https://mercomindia.com/pine-gate-renewables-credit-solar-expansion/" target="_blank" rel="noopener">secured</a> a $500 million credit facility from Fundamental Renewables to fund the development and construction of its utility-scale solar and storage projects in the U.S.</p>
<p>The solar developer with an alternative investment manager Irradiant Partners also <a href="https://mercomindia.com/project-finance-brief-scout-clean-energy-acquires-blue-sky-solar-project/" target="_blank" rel="noopener">secured</a> financing for 56 MW of solar projects under development in Michigan. The funds are being used to develop two solar projects having a 20-year power purchase agreement with Consumers Energy, the principal subsidiary of CMS Energy.</p>


Pine Gate Renewables Secures $500 Million Financing from Generate Capital

<p>U.S.-based solar energy company <a href="https://www.nexamp.com/" target="_blank" rel="noopener">Nexamp</a> has secured $680 million in funding, including $440 million of debt financing and a $240 million equity investment led by <a href="https://generatecapital.com/" target="_blank" rel="noopener">Generate Capital</a>.</p>
<p>Nexamp provides clean energy access to approximately 40,000 customers across 10 states in the United States. The funding raised will be utilized to expand its presence in new markets. It will also use the funding to scale its team to develop additional retail solutions.</p>
<p>Nexamp develops, designs, builds, and operates distributed solar plus storage projects. It currently has around 1 GW of operating and under-construction solar and storage projects.</p>
<p>Zaid Ashai, Chief Executive Officer of Nexamp, said, “Consumers want more options for reducing their environmental footprints and want more control over their costs. This funding shows confidence in our team and vision, and we are committed to providing solutions to address surging clean energy demand. With the momentum in community solar, we have built a foundation for numerous additional opportunities to expand our consumers’ access to clean energy and sustainable solutions.”</p>
<p>As per the U.S. Department of Energy, individuals can buy or lease a portion of the solar panels in the array in solar community projects. They receive an electric bill credit for electricity generated by their share of the community solar system.</p>
<p>The company said Marathon Capital, an independent investment bank, facilitated the transaction.</p>
<p>Nexamp recently signed an agreement with Walmart for the subscription of Nexamp’s 23 New York community solar farms.</p>
<p>Scott Jacobs, Co-founder and Chief Executive of Generate Capital, said, “We are thrilled to be partnering with Nexamp on this next phase of growth to reach our shared goals of delivering affordable, flexible decarbonization solutions to the market.”</p>
<p>In March 2021, Nexamp <a href="https://mercomindia.com/nexamp-secures-loan-solar-storage-portfolio/" target="_blank" rel="noopener">secured</a> a $440 million senior credit facility for its 380 MW of solar and storage portfolio spread across five states and includes nearly 100 community solar projects equipped with 120 MWh of storage capacity.</p>
<p>According to Mercom’s <a href="https://mercomcapital.com/product/1h-q2-2021-solar-funding-ma-report/" target="_blank" rel="noopener">1H and Q2 2021 Solar Funding and M&amp;A Report</a>, in 1H 2021, venture capital funding was 680% higher, with $1.6 billion raised in 26 deals compared to the $210 million that went into 14 deals in the first half of 2020. A total of 85 VC investors participated in solar funding in 1H 2021.</p>


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