SolRiver Capital LLC, a solar investment fund that acquires and owns distributed generation and utility scale projects, closed on $30 million of construction financing with AVANA Capital. The portfolio totals 24 MW and consists of six projects located across the country.
Since 2017, SolRiver and AVANA Capital have acted as financing partners on 11 projects, helping to grow the clean energy revolution. These have included installations for schools, hospitals, municipalities, and utilities.
“Our experience with renewable energy combined with our expertise in solar finance, permanent debt, and tax equity enabled us to extend the maximum financing to SolRiver for this portfolio,” said Sanat Patel, Co-Founder at AVANA Capital.
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SolRiver Capital has developed and managed over $400 million of solar totaling 180 MW of capacity from 300 projects.
“AVANA’s trust in our ability to deliver compelling projects has enabled SolRiver to quickly close and finance construction across the country, from Oregon to New York,” said Brandon Conard, Managing Partner at SolRiver. “Through years of working together, we have streamlined the financing process, allowing SolRiver to focus on what matters – starting construction and getting projects built.”
— Solar Builder magazine