Soltage Closes $80 Million Syndicated Development Revolver Facility to Accelerate Solar & Storage Deployment
Rhea-AI Summary
Soltage (EWBC) closed an $80 million syndicated multi-year development revolver facility on Dec 16, 2025 to accelerate deployment of its distributed solar and energy storage pipeline.
The facility is led by First Citizens Bank (sole bookrunner, administrative agent and coordinating lead arranger) with EastWest Bank as coordinating lead arranger. It is intended to finance development-stage expenditures, including interconnection deposits and equipment procurement, and represents Soltage's first major pre-notice-to-proceed financing vehicle.
Soltage said the revolver will support projects across key U.S. markets and build on its track record of developing more than 125 projects totaling over 500 MW of distributed generation capacity.
AI-generated analysis. Not financial advice.
Positive
- $80 million syndicated development revolver closed
- Facility led by First Citizens Bank with EastWest Bank
- Finances pre-NTP development costs including interconnection deposits and equipment
- Supports deployment across Soltage's > 2+ GW solar and storage pipeline
- Company has developed 125+ projects totaling > 500 MW
Negative
- None.
News Market Reaction – FCNCA
On the day this news was published, FCNCA gained 0.82%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Financing to Support Growth from 2+ GW Solar and Storage Pipeline
The new multi-year revolver is intended to finance development-stage expenditures — including interconnection deposits and equipment procurement — enabling Soltage to deploy capital efficiently across its growth pipeline. This marks Soltage's first major pre-notice-to-proceed (pre-NTP) financing vehicle, underscoring the company's strengthened market reputation and expanded financial capacity.
"This financing milestone represents a strong addition to Soltage's financial resources and underscores the confidence our banking partners have in our business model," said Chaim Grushko, Senior Vice President at Soltage. "We are grateful to First Citizens Bank and EastWest Bank for their support, and to the internal teams whose efforts brought this to fruition."
"We are pleased to continue our relationship with Soltage by providing this latest development financing," said Mike Lorusso, Group Head for First Citizens Bank's Energy Finance. "Soltage is a leader in developing solar and energy storage projects across the
The facility will support Soltage's development of solar and energy storage projects across key
Soltage has developed more than 125 clean energy projects totaling over 500 MW of distributed generation capacity. The company continues to expand its footprint nationwide with a growing pipeline of solar and storage assets.
About Soltage
Soltage is a leading Independent Power Producer focused on the development, financing, and operation of distributed utility-scale solar and storage assets for utility, commercial, industrial, and municipal customers across
About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in
About EastWest Bank
View original content to download multimedia:https://www.prnewswire.com/news-releases/soltage-closes-80-million-syndicated-development-revolver-facility-to-accelerate-solar--storage-deployment-302642679.html
SOURCE Soltage