North American solar energy investment and development company Greenwood Energy has completed two solar project portfolio financings with ORIX Corporation USA.
Greenwood Energy was advised during the transaction by Marathon Capital. Elizabeth Mine is a Greenwood Energy 7,000 kW solar project in Stafford Vermont, which reached commercial operation in December, last year and an example of the projects which Greenwood undertakes and finances
The US renewable energy market is a multibillion-dollar sector. A global focus on clean power, where many U.S. developers lead the field, has given rise to new solutions with improved technology offering greater efficiencies year upon year. Greenwood Energy has been operating in the clean energy industry sector since 2010 and has developed 36 solar energy projects across eight US states in excess of 100MW. The company represents a key part of the Libra Group’s commitment to renewable energy in the Americas. ORIX USA has been investing in the US solar industry since 2015, with a focus on the commercial, industrial and small utility-scale sub-sector.
Greenwood Energy managing director Jon Cole commented, “This commitment by ORIX USA represents a strong endorsement of Greenwood Energy and its commercial strategy for solar energy the US. The US energy market offers exceptional growth potential at an unprecedented moment for clean technologies. We look forward to capitalizing on this opportunity and working closely with ORIX USA as our business develops.”
ORIX USA infrastructure and renewable energy head Josh Herlands said: “ORIX Corporation has a long history of investing in a broad array of infrastructure assets globally – including renewable energy generation.
“We are excited to work with Greenwood Energy on this project and other potential solar projects as these investments are synergistic with our U.S. solar investment strategy and our corporate purpose to steward a better tomorrow.”
Source: Company Press Release