From: Mercom India
PureSky Energy, a Denver-based developer, owner, and operator of community solar, commercial and industrial solar, and energy storage projects, has closed a $62 million upsizing of its corporate credit facility arranged by Nomura.
The company said the expanded credit facility enabled it to repay certain legacy debt at the holding company level and increased liquidity for its U.S. community solar and distributed generation business.
“The expanded credit facility provides us with increased financial flexibility to support our growing development and construction portfolio while maintaining a disciplined and streamlined capital structure. Nomura has been a trusted partner throughout this process, reflecting PureSky’s strong platform, execution capabilities, and long‑term value creation,” said Rami Khadra, Chief Financial Officer of PureSky Energy.
The transaction closed concurrently with the completion of a $183.7 million refinancing of its operating portfolio. The refinancing consolidates eight existing debt portfolios into a single financing structure covering 211 MW of solar capacity and 58 MWh of energy storage across 43 operating projects in Massachusetts, New York, and Minnesota.
PureSky said the financing received an investment-grade rating. Marathon Capital served as PureSky’s exclusive financial adviser for the refinancing. The note purchasers included PGIM, funds managed by AB CarVal, and Denham Capital.
The company entered the U.S. market in 2016 and has approximately 300 MW of generation capacity across 63 operational or under-construction sites.
According to Mercom’s recently released Q1 2026 Solar Funding and M&A report, debt financing for the solar sector reached $8.9 billion across 28 deals, a 154% increase compared to the $3.5 billion secured in 23 deals in Q1 2025. On a QoQ basis, debt funding rose 162% from $3.4 billion across 20 deals in Q4 2025.
In July, Nesa Power Group, a South Africa-based commercial and industrial renewable energy company, secured R150 million (~$9 million) in mezzanine debt funding from Maia Capital Partners.
