Unique Renewable Energy Financing to Fund New CT Solar Lease Program

In a deal believed to be the first solar lease financing in the country to combine senior debt with a tax credit investment, Shipman & Goodwin assisted a major bank in closing a $26,700,000 syndicated credit facility with CT Solar Lease 2 LLC to administer Connecticut’s new solar lease program. Funding totaled $60,000,000 and was secured through collaboration between our client, CT Green Bank (the state’s green bank) and several other key banks. The program will finance leases for more than 2,000 rooftop solar systems.