Scale Microgrids has closed $275 million in new project financing, bringing the total financing raised by the company to over $1 billion. The financing will support 140 MW of distributed generation projects, including the company’s community-scale solar and storage and battery storage installations. The projects are spread across US in New York, Pennsylvania, New Jersey, Connecticut, and California.

Furthermore, KeyBanc Capital Markets, Cadence Bank, and New York Green Bank led the transaction. Additional participating lenders included Investec, Mitsubishi HC Capital America, and Connecticut Green Bank. The financing raised from the participating lenders includes construction loans, tax equity bridge loans, letters of credit, and term loans for projects. Additionally, the projects will enter commercial operations in 2025 and 2026.

Earlier in December 2024, Scale Microgrids secured $150 million in Tax Equity financing from Truist Bank. The financing was for the construction of microgrid projects for commercial and industrial customers, as well as community-scale solar and battery storage facilities. The projects will be developed across the states of California, Connecticut, New York, and Pennsylvania in US.