Penn Energy, Rabobank Move Forward On Solar Energy Projects

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Penn Energy Renewables, Ltd. of Bala Cynwyd and Rabobank have closed financing for three solar energy projects in Ontario, Canada.

The projects will sell power under three separate 20-year Power Purchase Agreements to the Ontario Power Authority as part of the OPA’s Feed-In-Tariff program. The financing involves $125 million in construction and term loans.

Penn Energy actively develops, acquires and invests in utility-scale solar farms and has real estate, mineral, and energy holdings in Texas, Nevada, New York, Vermont, New Jersey, Massachusetts, Delaware, Pennsylvania and Ontario. Read about the company here.

Rabobank Group is one of the largest banks in the world, with nearly $1 trillion in assets and operations in more than 40 countries. In the U.S. Rabobank is a premier bank to the food and agriculture industries, and finances solar, wind, bioenergy and energy infrastructure projects.

 

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