Pivot Energy, a Denver, Colorado-based independent power producer focused on distributed solar and energy storage, has closed a $173 million term loan facility.
The financing was provided by long-time financial partners First Citizens Bank, Huntington Bank and BankUnited.
The new facility refinances projects previously supported through Pivot Energy’s construction warehouse and combines the company’s first three project portfolios under a single term loan structure. This marks Pivot Energy’s first term loan financing.
The transaction also frees up capacity in Pivot Energy’s revolving construction facility, allowing the company to continue financing and building additional solar and energy storage projects across the U.S.
Founded in 2009, Pivot Energy develops, owns and operates solar and energy storage projects across the United States. The company provides renewable energy solutions for businesses and communities while supporting local economic development and job creation.
Pivot Energy is a Certified B Corporation and has continued to expand its renewable energy portfolio through project development, ownership and financing partnerships.
The latest financing follows a $450 million financing completed by Pivot Energy in December 2024. That transaction included an equity investment from HASI and a warehouse debt facility led by First Citizens Bank and Atlas SP Partners, with BankUnited, Comerica Bank and Cadence Bank also participating.
The 2024 financing was designed to support around 300 MW of distributed generation projects across the U.S. and provided Pivot Energy with additional debt financing options as it expanded its project pipeline.
