RET Capital Secures Over $200 Million in Financing for Four Solar Projects

Renewable Energy Trust Capital (RET Capital) closed on over $200 million in financing for four solar projects in the U.S. and Canada. The independent renewable finance platform closed a CAD $115 million non-recourse debt to support the acquisition of two solar facilities in Ontario, Canada. The company closed a non-recourse term loan, fixed rate notes and letter of credit facility in December 2014 with NORD/LB Norddeutsche Landesbank Girozentrale in Hannover and Massachusetts Mutual Life Insurance Company (MassMutual), securing a total of CAD $115 million in financing to acquire the 12.6-MW DiscoveryLight and 14.2-MW FotoLight projects from Canadian Solar. The projects provide power to the Ontario Power Authority under 20-year feed-in-tariff contracts. RET Capital also announced that it had closed two additional non-recourse debt financings — totaling $121million— related to the acquisition of two solar facilities in California representing more than 44 MW DC.