Pivot Energy Secures Over $225 Million from Three Existing Lenders to Advance Community Solar Projects

Rhea-AI Summary

Pivot Energy (FCNCA) secured $225 million in three financing agreements on December 17, 2025, to advance community solar projects and corporate needs. The package includes a $170M upsize to an existing construction warehouse supporting ~60 community solar projects (~225 MW) across nine states, a $40M equipment facility with First Citizens to buy domestically made Silfab Solar panels, and a $15M corporate facility with Comerica.

Backed by Energy Capital Partners, Pivot's total 2025 financing now totals $435M. The equipment facility was structured to secure access to safe-harbored investment tax credits.

Positive

• $170M construction warehouse upsize
• $40M equipment facility to buy domestic panels
• ~60 projects totaling ~225 MW
• Total 2025 financing reaches $435M
• Equipment financing secures safe-harbored investment tax credits

Negative

• Federal policy headwinds noted as an ongoing challenge

Key Figures

New financing total $225 million Three agreements announced with existing lenders

Warehouse upsize $170 million Construction warehouse facility with ATLAS SP and First Citizens

Community solar projects 60 projects Approximate number of community solar projects supported

Community solar capacity 225 MW Total capacity of new community solar portfolio

Equipment facility $40 million Equipment facility with First Citizens for Silfab Solar panels

Corporate facility $15 million Corporate financing facility with Comerica Bank

Prior debt warehouse $450 million Debt warehouse facility secured last year

2025 financing total $435 million Pivot’s total financing in 2025 after new agreements

Market Reality Check

$2111.59 Last Close

Volume Volume 99,020 is broadly in line with the 20-day average of 94,083 (relative 1.05x). normal

Technical Price 2091.85 sits above the 200-day MA of 1872.54, reflecting a pre-existing uptrend.

Peers on Argus

FCNCA was up 0.82% while key peers were mixed: HBAN -0.82%, CFG -0.72%, MTB -0.87%, RF +0.07%, SHG +0.46%, suggesting a more company-specific tone around this lending-related news.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 04	Consumer survey release	Positive	+1.1%	CIT Bank survey on 2026 resolutions and planned consumer financial behaviors.
Nov 20	Leadership appointment	Positive	-0.4%	Named Snow Holding to lead middle market banking in the Northeast region.
Nov 20	Client financing deal	Positive	-0.4%	SVB division provided a $50M growth capital facility to Lumafield.
Nov 19	Real estate expansion	Positive	+1.8%	Purchased a 160,000 sq ft San Francisco office building for Bay Area growth.
Nov 18	Leadership appointment	Positive	+0.5%	SVB named Megan Scheffel to lead Life Science and Healthcare Banking.

Pattern Detected

Recent corporate and client financing announcements have produced modest but mostly positive price reactions, with occasional divergences on business development news.

Recent Company History

Over the last few months, FCNCA has highlighted business expansion, capital markets activity, and client growth. A consumer survey from Dec 4, 2025 and multiple leadership and client financing updates in November showed the bank’s focus on middle market, technology, and regional presence, including a major San Francisco office purchase on Nov 19. Earlier, FCNCA announced a large branch acquisition from BMO and multiple debt and preferred offerings. Today’s news about financing Pivot Energy aligns with this pattern of leveraging lending platforms across specialized sectors.

Market Pulse Summary

This announcement underscores First Citizens’ role in financing the energy transition, with existing relationships supporting Pivot Energy’s additional $225 million in facilities and a broader $435 million in 2025 funding. For FCNCA, it adds to a pattern of client-focused growth, capital markets activity, and sector specialization visible in recent news and filings. Investors may monitor the performance of these renewable-focused lending relationships, overall credit trends, and how such commitments fit within broader regulatory capital and funding strategies.

Key Terms

independent power producer technical

"a leading national renewable energy provider and independent power producer"

An independent power producer is a company or entity that generates electricity and sells it to utilities or directly to consumers, operating separately from government-owned or utility-controlled power plants. This type of producer often builds and manages power facilities to meet market demand, offering more options and competition in energy supply. For investors, independent power producers can provide opportunities for profit through the sale of electricity in a competitive market.

community solar technical

"supporting a new portfolio of approximately 60 community solar projects"

Community solar is a shared solar power system that allows multiple people or businesses to benefit from a single solar installation, often located off their property. Participants typically buy or lease a portion of the solar energy generated, which helps reduce their electricity bills and supports renewable energy efforts. For investors, community solar represents an opportunity to support sustainable projects while earning stable returns from a growing clean energy market.

distributed generation technical

"commitment to scaling renewable energy production and distributed generation solar."

Electricity produced close to where it is used rather than at a large, central power plant—examples include rooftop solar, small wind turbines, and local gas generators. For investors, distributed generation matters because it can change how power is bought and sold, reduce demand for traditional utility services, create new revenue streams for installers and technology providers, and expose assets to different regulatory and reliability risks, like a neighborhood adding many home solar systems.

investment tax credits financial

"facility that secures Pivot's access to safe-harbored investment tax credits for years"

Investment tax credits are government discounts on an investor’s tax bill tied to putting money into certain projects or assets, effectively returning a portion of the upfront cost as a tax saving. They matter to investors because they improve after-tax returns and can make otherwise marginal projects more profitable—like a manufacturer offering a coupon that lowers the net price of a major purchase—so they influence valuation, cash flow forecasts and investment decisions.

AI-generated analysis. Not financial advice.

12/17/2025 - 06:00 AM

DENVER, Dec. 17, 2025 /PRNewswire/ -- Pivot Energy ("Pivot"), a leading national renewable energy provider and independent power producer, today announced three important financing agreements totaling $225 million, showcasing the company's continued momentum and commitment to scaling renewable energy production and distributed generation solar.

The financing includes:

• $170 million upsize to an existing construction warehouse facility with ATLAS SP ("ATLAS") and First Citizens Bank ("First Citizens"), supporting a new portfolio of approximately 60 community solar projects, equivalent to 225 Megawatts (MW) in Illinois, Colorado, Maryland, Virginia, New York, Pennsylvania, Delaware, Michigan, and California.
• $40 million equipment facility with First Citizens, supporting purchases of domestically made solar panels from Silfab Solar Inc.
• $15 million corporate financing facility with Comerica Bank ("Comerica").

This announcement follows Pivot's $450 million debt warehouse facility secured last year, which was led by First Citizens and ATLAS and ranks among the largest-ever raised by a distributed generation solar company. With these new financing agreements, Pivot's total financing in 2025 now stands at $435 million.

Despite federal policy headwinds, this additional $225 million in financing demonstrates the strength and resilience of leading solar developers and asset owners in attracting capital. Backed by Energy Capital Partners ("ECP"), one of the largest private owners of power generation, Pivot is positioned to continue scaling distributed generation nationwide. As demand for reliable energy grows, solar and storage remain the fastest deploying and most cost-effective solutions for meeting that need.

"We deeply appreciate the expanded commitments from ATLAS, First Citizens, and Comerica, proving the benefit of strong partnerships and that the momentum is strong for the renewable energy industry," said Tom Hunt, CEO of Pivot Energy. "Pivot Energy continues to show its strength in its strategic diversity and plans to keep growing and building distributed generation projects that contribute to a reliable electricity grid, help lower electricity prices, and meet energy demand across the country."

"Pivot continues to prove its ability to develop, build and manage community solar projects across diverse markets," said Spencer Hunsberger, Head of Energy Origination at ATLAS. "ATLAS is proud to support Pivot's growth during a dynamic policy environment by committing the majority of the recent warehouse upsize. This expanded facility helps unlock the next phase of growth for Pivot, and we look forward to seeing the impact of these projects in advancing clean energy goals nationwide."

"We are pleased to continue to build upon our relationship with Pivot Energy," said Mike Lorusso, Head of First Citizens Bank's Energy Finance business. "Our team worked collaboratively to significantly expand the construction warehouse we closed last year, while structuring a long-term equipment financing facility that secures Pivot's access to safe-harbored investment tax credits for years to come. With this latest financing, Pivot is well-positioned to accelerate growth and confidently execute its renewable energy pipeline."

About Pivot Energy
Pivot Energy is a renewable energy provider and independent power producer that develops, finances, builds, owns, and manages solar and energy storage projects. Pivot leverages its renewable expertise to provide a range of unique offerings that accelerate the clean energy transition by helping companies and communities attain impactful decarbonization. Pivot is a U.S.-based Certified B-Corporation that proudly follows a corporate strategy aimed at providing a positive impact on society as measured by Environmental stewardship, Social leadership, and responsible Governance factors. Pivot Energy is an ECP portfolio company. Learn more at pivotenergy.net.

About ATLAS SP Partners
ATLAS is a global investment firm providing stable capital, financing, advisory and institutional products to market participants seeking innovative and bespoke structured credit and asset-backed solutions. ATLAS is proud to build upon a legacy of client excellence that includes certainty of execution, deep expertise and full-service capabilities across the asset management landscape. For more information, visit www.atlas-sp.com.

About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 500 branches and offices in 30 states; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.

View original content:https://www.prnewswire.com/news-releases/pivot-energy-secures-over-225-million-from-three-existing-lenders-to-advance-community-solar-projects-302644140.html

SOURCE Pivot Energy

FAQ

What financing did Pivot Energy (FCNCA) announce on December 17, 2025?

Pivot announced three financings totaling $225 million: a $170M warehouse upsize, a $40M equipment facility, and a $15M corporate facility.

How many community solar projects and how much capacity does the $170M warehouse support for FCNCA?

The $170M warehouse upsize supports approximately 60 community solar projects, equivalent to about 225 MW across nine states.

Which lenders participated in Pivot Energy's December 17, 2025 financings for FCNCA?

The financings involved ATLAS SP and First Citizens (warehouse and equipment) and Comerica (corporate facility).

What is the purpose of the $40M equipment facility in Pivot's financing for FCNCA?

The $40M equipment facility with First Citizens supports purchases of domestically made solar panels from Silfab Solar.

How much total financing has Pivot Energy raised in 2025 after the December 17 announcements?

With the new agreements, Pivot's total 2025 financing now stands at $435 million.

Does the December 17, 2025 financing affect Pivot's access to investment tax credits for FCNCA?

Yes; the equipment financing was structured to secure Pivot's access to safe-harbored investment tax credits.