Bridge Renewable Energy (BRE), a subsidiary of Bridge Investment Group Holdings LLC and a leading developer, owner, and operator of distributed solar and energy storage assets, has announced the closing of a portfolio financing package totaling $85 million. The financing includes an $80 million delayed draw term loan facility and a $5 million revolving credit facility, arranged in partnership with Investec Bank, PLC as sole lead arranger, with additional commitments from Amalgamated Bank and Farmer Mac.
The facility primarily consists of a construction-to-term loan and also incorporates preferred equity bridge loan and tax credit bridge loan capacities. It will support the development, construction, and operations of a 40 MW portfolio encompassing 42 community solar and commercial and industrial solar and energy storage projects across nine U.S. states, including Arizona, California, Georgia, Illinois, Maryland, Maine, Minnesota, Nebraska, and Texas.
Adam Haughton, Chief Investment Officer at BRE, highlighted the significance of the transaction, stating that it reflects the dedication and innovative approach of the BRE team and its partners. He noted that distributed solar and energy storage projects have often faced challenges in accessing efficient capital, and this financing structure demonstrates the kind of creative funding solutions required to accelerate distributed energy deployment across the U.S.
Fred Petit, Co-Head of Energy & Infrastructure Finance at Investec, emphasized that the bank is pleased to support BRE as the sole lead arranger. He added that the transaction showcases Investec’s ability to provide scalable and innovative capital solutions to help grow distributed renewable energy in the U.S., leveraging global expertise and deep sector knowledge to structure facilities that support the transition to cleaner and more resilient energy systems.
The financing is further supported by Energetic Capital’s EneRate Credit Cover® policy, which provides innovative insurance to mitigate offtaker credit risk for renewable energy investors and lenders. Vincent LePore, Director at Energetic Capital, remarked that this facility exemplifies how creative financing partnerships can unlock opportunities for developers and lenders while advancing distributed generation as a key component of the energy transition.
Legal support for the transaction included Foley & Lardner serving as borrower’s counsel for BRE and Wilkie Farr & Gallagher acting as lender’s counsel for Investec. This financing milestone reinforces BRE’s commitment to expanding its distributed solar and energy storage portfolio while providing innovative capital solutions that drive sustainable energy growth across the United States.
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