The funds will be used by Greenskies to construct photovoltaic solar projects across 12 states, stretching from Maine to California, for a broad range of commercial and municipal customers.

According to the US Department of Energy’s Energy Information Administration, the projects are expected to generate 85GWh annually, to serve 13,000 average New England households.

The agreement is Greenskies’ sixth round of financing with First Niagara since 2012.

First Niagara vice president and senior relationship manager Peter Thomas said: "This particular financing vehicle allows the company to leverage additional capital and accelerate the distribution of green renewable energy throughout not only New England, but the entire nation."