FirstLight Powera clean electricity producer, developer and energy storage company, recently completed an extension of its corporate credit facility led by Royal Bank of Canada, Toronto-Dominion Bank and Export Development Canada.
The credit, totaling $97.5 million, will provide the company with additional resources for long-term business growth, including the development of a development pipeline of solar and battery projects to complement more than 1.6 GW of hydro, storage and solar assets.
“Over the past two years, FirstLight has moved aggressively to expand our focus beyond our traditional hydro operations,” said Chris Hurley, Executive Vice President. “FirstLight is excited to have the support of its lenders to continue our growth… as we advance our mission to accelerate decarbonization of the electricity grid.
This expanded credit facility follows several recent growth-related efforts by FirstLight:
- The integration of H2O Power adds 150 MW of generating capacity and represents the company’s first venture into the Canadian market;
- Joining a successful investment consortium that won a lease in the NY Bight Offshore Wind auction;
- Creating a new partnership in Connecticut to promote hybrid renewable energy projects at the company’s Connecticut properties;
- Partnering with New Leaf Energy (formerly Borrego) to develop new solar and storage generation at hydroelectric facilities in Massachusetts and Connecticut.