Renewable Energy Trust secures more than $200 million for solar projects

By Lisa Kerner

Charlotte, N.C., March 20 – Renewable Energy Trust Capital, Inc. (RET Capital) announced it closed a C$68 million term loan and secured C$47 million of fixed-rate notes in December with NORD/LB Norddeutsche Landesbank Girozentrale and Massachusetts Mutual Life Insurance Co.

The financing was to support the acquisition of two solar facilities in Ontario, Canada.

Additionally, RET Capital closed two non-recourse debt financings totaling more than $121 million for the acquisition of two solar facilities in California, according to a company news release.

The first financing consisted of a non-recourse term loan and letter-of-credit facility totaling $86.2 million with NORD/LB and MassMutual in April.

In June, the company secured a non-recourse term loan, letter-of-credit facility and 1603 cash grant loan totaling $35.2 million from KeyBank NA.

RET Capital is an independent finance platform with offices in New York and San Francisco.

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