Ecoplexus, a utility-scale solar and storage project developer, closed a $300 million credit facility from capital accounts advised by KKR, an investment firm. The facility comprises development capital and a letter of credit facility provided by Sumitomo Mitsui Banking Corporation (SMBC).
The funding will be used to support the expansion of the company’s portfolio of over 13 GW of solar and storage projects across the U.S., and to advance several large-scale projects that will begin construction in the near term.
Ed Campaniello, Senior Vice President of Finance, stated, “Securing this cost-effective capital solution strengthens our U.S. portfolio. This facility will support over $2.5 billion of project finance, including investment partnerships in construction-ready projects and the long-term ownership of strategic assets.”
In January 2024, the company announced it had expanded its existing credit facility with New Energy Capital to $150 million. The credit facility, closed in the fourth quarter of 2023, was used to support its 1.5 GW late-stage project portfolio and to accelerate Ecoplexus’s 9 GW solar and 8 GW/16 GWh development pipeline in the U.S.
In 2020, Ecoplexus acquired a 523 MW mid-stage solar project portfolio located in Georgia and Tennessee from Kruger Energy, a business unit of Kruger Inc. specializing in the development and management of renewable energy projects.
According to Mercom’s 9M and Q3 2025 Solar Funding and M&A report, debt financing activity in 9M 2025 reached $12.7 billion in 60 deals, a 24% decrease compared to 9M 2024 when $16.7 billion was raised in 68 deals.
In August 2025, ABO Energy, a renewable energy project developer, closed a syndicated loan agreement for €240 million (~$280 million) with the participation of seven banks. As per the agreement, the financing volume is divided equally between traditional loans, revolving working capital facilities, and guarantee lines.
