Pivot Energy, a renewable energy provider and independent power producer, announced three financing agreements totaling $225 million.
The three financing agreements include a $170 million upsized existing construction warehouse facility with ATLAS and First Citizens Bank providing the funding to support the development of a new portfolio of approximately 60 community solar projects totaling 225 MW in Illinois, Colorado, Maryland, Virginia, New York, Pennsylvania, Delaware, Michigan, and California.
Another $40 million equipment facility with First Citizens, supporting purchases of domestically made solar panels from Silfab Solar, and a $15 million corporate financing facility with Comerica Bank.
“We deeply appreciate the expanded commitments from ATLAS, First Citizens, and Comerica, proving the benefit of strong partnerships and that the momentum is strong for the renewable energy industry,” said Tom Hunt, CEO of Pivot Energy. “Pivot Energy continues to show its strength in its strategic diversity and plans to keep growing and building distributed generation projects that contribute to a reliable electricity grid, help lower electricity prices, and meet energy demand across the country.”
The announcement builds on Pivot’s $450 million debt warehouse facility secured last year, led by First Citizens and ATLAS. These latest agreements bring Pivot Energy’s total financing to $435 million in 2025.
“We are pleased to continue to build upon our relationship with Pivot Energy,” said Mike Lorusso, Head of First Citizens Bank’s Energy Finance business. “Our team worked collaboratively to significantly expand the construction warehouse we closed last year, while structuring a long-term equipment financing facility that secures Pivot’s access to safe-harbored investment tax credits for years to come. With this latest financing, Pivot is well-positioned to accelerate growth and confidently execute its renewable energy pipeline.”
According to Mercom’s 9M and Q3 2025 Solar Funding and M&A report, large-scale project funding increased by 43% in the first nine months of 2025 compared with the same period in 2024.
In December, Origis Energy, a U.S.-based renewable energy company, secured $290 million for the Swift Air Solar II and Swift Air Solar III projects in Ector County, Texas. The two projects have a total capacity of 313 MW.
