CleanChoice Energy, a clean energy company, closed an up to $85 million term loan facility with Aiga Capital Partners, an institutional investment platform that specializes in innovative financing solutions for North American-based companies developing sustainable infrastructure assets. These funds will support CleanChoice’s continued expansion into solar generation, helping CleanChoice to construct solar projects that will provide much-needed sources of power for the nation’s surging demand for energy.
“This financing helps us sustain momentum as we evolve into a new chapter of our business, growing from our retail roots, offering consumers access to clean energy, to now also generating clean energy for the grid,” Tom Matzzie, CEO of CleanChoice Energy, said. “Our generation platform is an important part of CleanChoice’s strategy to make regional clean energy more accessible, a farm-to-table approach to renewable energy.”
Zoë Gamble, president of CleanChoice Energy, added, “Aiga worked closely with our team to structure financing that reflects both the needs of our development platform and the realities of bringing renewable projects to construction. We value their partnership and the confidence they have placed in CleanChoice.”
This financing comes on the heels of a successful $166 million project financing raise for CleanChoice’s second and third solar projects.
The facility is expected to help CleanChoice maintain momentum across its development platform while preserving flexibility to pursue project-level capital as individual assets mature.
“At Aiga, we partner with developers that have built durable platforms and are positioned to scale,” Rory Meyers, managing partner of Aiga Capital Partners, said. “CleanChoice pairs an established retail electricity platform with a growing pipeline of solar projects, and its vertically integrated approach creates a differentiated path to scale. We look forward to growing the partnership and bringing more renewable energy onto the grid.”
JLL Securities served as financial advisor to CleanChoice. Sidley Austin served as legal counsel to CleanChoice. Norton Rose Fulbright served as counsel to Aiga.
