Nexus Renewables Closes Multiple Financings Totaling Over Usd40 Million
06/12/23, 1:05 PM
Location
torontoIndustry
energy
solar
renewable energy
Investors
Greenprint Capital, Synovus Bank, Aiga Capital Partners
Nexus Renewables Inc. ("Nexus", or "the Company"), a leading North American developer of renewable power projects and energy storage solutions, today announced the concurrent closing of (i) a USD13.3 million senior secured loan led by Aiga Capital Partners ("Aiga"), (ii) a USD14.5 million project-level financing led by Synovus Bank ("Synovus"), (iii) a CAD5.0 million commitment for privately-placed preferred shares, and (iv) a USD10.8 million tax equity commitment led by Greenprint Capital ("Greenprint"). Proceeds from the financings will be used to construct a 10MW/40MWh battery energy storage system (BESS) located in Fairfield, California, and advance development on the remainder of the Company's portfolio, which includes a 300MW/600MWh BESS project located near Houston, Texas.
Company Info
Location
queens quay w
toronto, ontario, canada
Additional Info
Nexus Renewables is a developer, owner, operator of renewable energy focusing on solar and energy storage.
Nexus is founded with a vision to create a clean and sustainable future for our communities. We focus on development, construction and operation of distributed energy resources such as solar and energy storage to improve power grid stability while generating profits to all stakeholders.