FirstLight Power, a clean power producer, developer and energy storage company, recently completed the expansion of its corporate credit facility led by Royal Bank of Canada, the Toronto-Dominion Bank and Export Development Canada.
The credit facility, totaling $97.5 million, provides the company with more resources for long-term growth of its business, including advancement of its solar and battery project development pipeline to complement its portfolio of more than 1.6 GW of hydropower, storage and solar assets.
“Over the past two years, FirstLight has moved aggressively to expand our focus beyond our traditional hydropower operations,” says Chris Hurley, senior vice president of finance. “FirstLight is excited to have the support of its lenders to continue our growth … as we advance our mission of accelerating the decarbonization of electric grids across.
This expanded credit facility follows a number of recent growth-related endeavors from FirstLight:
- The integration of H2O Power, adding 150 MW of generating capacity and representing the company’s first venture into the Canadian market;
- Joining a successful investment consortium that secured a lease in the NY Bight Offshore Wind auction;
- Creating a new partnership in Connecticut to advance new hybrid renewable energy projects at the company’s Connecticut properties;
- Collaborating with New Leaf Energy (formerly Borrego) to develop new solar and storage generation at hydropower facilities in Massachusetts and Connecticut.