Agilitas Energy, an integrated developer, builder, owner and operator of distributed energy storage and solar photovoltaic (PV) systems in the northeastern U.S., secured financing from 1st Source Bank for national expansion efforts and delivery of renewable energy across the country.
As longstanding financial partners, 1st Source Bank was able to support Agilitas Energy with an agreement that met the company’s needs. The tailor-made solution includes a financing package that consists of both construction loan and tax equity financing. This financing is designed to help Agilitas Energy connect renewable energy storage projects in Bristol, Vermont and Patchogue, New York to the grid.
Meanwhile, the revolving credit facility is meant to finance Agilitas Energy’s equipment acquisition costs and interconnection deposits for development phase across the country.
“1st Source Bank is proud to support Agilitas Energy and its full value chain business model as it continues to deliver renewable energy projects to the grid, benefiting local communities,” Ryan Fenstermaker, division head of solar financing at 1st Source Bank, said. “The all-in-one debt and tax equity product at 1st Source Bank, along with our flexibility and responsiveness, continues to be innovative in the marketplace, helping to advance the energy sector on a variety of asset classes and financing structures.”
