Apricus generation, an American Ompany specializing in the development of solar energy and distributed battery, has created a new renewable credit facility of $ 30 million from Atlantic Union Bank.
The strategic decision will increase the flexibility of the capital of the company, which will allow it to eliminate the development and expansion plans of projects and to meet the growing demand for clean energy solutions.
It also serves to maintain and take advantage of the robust balance sheet of the company.
The president and co-founder of the generation of Apricus Generation, Gautam Chandra, said: “The guarantee of this single-rotating development financing plant with the Banque de l’Union Atlantique marks another important step in our growth strategy.
“This installation offers us additional financial flexibility to advance our development pipeline more effectively and support our expansion portfolio of solar storage and battery projects. While we continue to build our national platform, access to this type of capital is essential to accelerate the deployment of clean energy on our target markets.”
The collaboration with Atlantic Union Bank follows a successful series of a round of funding.
The director of commercial relations at Atlantic Union Bank, John Lester, said: “This credit facility highlights our commitment to finance the transition of clean energy. Apricus has demonstrated solid project development capacities and a significant moment of growth, and we are impatient to support their continuous expansion in the renewable energies sector.”
The new financing installation of Apricus Generation follows the acquisition by the Company of a majority interest in the developer of US Sun and Energy Storage projects in the United States Nexus.
Additional financial support strengthens the business efforts to help developers, optimize project financing and offer management expertise to create a advanced platform.
The CEO and co-founder of Apricus Generation, Ravi Thuraisingham, said: “This credit ease improves our ability to quickly respond to development opportunities with profitable capital.
“Working with Atlantic Union Bank gives us the necessary financial agility on the dynamic market of current clean energy, allowing us to focus on accelerating the deadlines for the project and the enlargement of our imprint across the country. This installation completes our actions capital base and positions us for growth and continuous execution. ”
“Apricus generation wins a credit of $ 30 million to stimulate clean energy projects” was originally created and published by Electricity technologyA brand belonging to GlobalData.
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