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NY Green Bank funds Eden Renewables with Bridge Loan

March 31, 2020 by l

 
“On November 8, 2019, NY Green Bank (“NYGB”) provided a 24-month senior secured $2.5 million bridge loan facility (the “Bridge Loan”) to Eden Devco Borrower LLC (“Borrower”), which is owned by Eden Devco LP (“Sponsor”), a limited partnership that is managed by Eden Renewables LLC (“Eden”). On March 31, 2020, NYGB increased the Bridge Loan size to $4,307,753. Bridge Loan proceeds will finance project interconnection deposits to National Grid for community distributed generation (“Community DG”) solar projects. This transaction is expected to provide New York State (“NYS”) residents and businesses with a greater variety of energy choices and, ultimately, lower-cost clean energy opportunities.”
 
link to New York Green Bank
 
read Eden Renewables transaction profile PDF
 
New York Green Bank 31 March 2020.
 

Posted in: Eden Renewables Tagged: bridge loan, community solar, Eden Devco Borrower LLC, Eden DevCo LP, Eden Renewables, funding, Interconnection, National Grid, NY Green Bank, NYSERDA, Public Service Commission
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