Prudential Private Capital has invested $44.8 million in Ameresco PV Holdings X LLC, an owner of 14 operating solar and project companies. Prudential Private Capital is the private capital arm of PGIM.
DALLAS, Oct. 7, 2021 – Prudential Private Capital provided $40.7 million of senior secured fixed rate notes, $4.1 million of second lien floating rate notes, and an undrawn Pru-Shelf facility with $60.0 million capacity to Ameresco PV Holdings X LLC, owner of 14 operating solar project companies that own projects at 27 different locations across the United States. Prudential Private Capital is a leading source of private debt for public and private companies and is the private capital arm of PGIM, the $1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).
“We are proud to support Ameresco’s mission of energizing a sustainable world through providing energy-efficient and renewable solutions to their customers. Our flexible financing solution positions Ameresco well for future growth and secures funding for their portfolio of operating solar projects,” said Steven Hendricks, director of Prudential Private Capital’s Power group.
“This significant financing extends our ability to diversify and expand our portfolio of solar assets throughout North America,” said Doran Hole, chief financial officer of Ameresco. “Prudential’s confidence in Ameresco’s mission as a cleantech integrator supports our shared vision for growth in sustainability in the coming years.”
“Our experience financing commercial and industrial portfolios positioned us well to serve as a trusted lender for Ameresco and provide streamlined execution,” added Wendy Carlson, managing director and head of Prudential Private Capital’s Power group. “Our deep experience and proven track records with project financing formed the foundation of our partnership with Ameresco,” said Carlson.
Founded in 2000, Ameresco, Inc. (NYSE: AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, Massachusetts, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.