8minute solar energy secures $225 million letter of credit facility to support its 18 GW solar-plus

ENERGY TREND | A tenfold boost in capacity over existing letter of credit facility exhibits the strength of 8minute’s extended pipeline over the last four years.

8minute Solar Energy (8minute) announced that the company has closed a $225 million letter of credit (LC) facility from a consortium of five banks, led by CIT as sole coordinating lead arranger with partners KeyBank, HSBC, Rabobank and Nomura Holdings. 8minute will use the LC facility to cost effectively post securities for its power purchase agreements (PPAs) and interconnection agreements for its 18-gigawatt (GW) pipeline of solar and storage projects throughout California, Texas and the Southwestern United States.

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