CIT Leads $225 Million Letter of Credit Facility for 8minute Solar Energy to Support Its Renewable Energy Development Projects
NEW YORK, June 1, 2020 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business served as sole coordinating lead arranger for a $225 million letter of credit facility on behalf of 8minute Solar Energy (8minute), a leading developer of renewable energy projects nationwide.
- NEW YORK, June 1, 2020 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business served as sole coordinating lead arranger for a $225 million letter of credit facility on behalf of 8minute Solar Energy (8minute), a leading developer of renewable energy projects nationwide.
- "CIT has again demonstrated its agility and industry expertise to arrange this financing and advance the deployment of our large-scale solar and energy storage projects."
- "With this transaction, CIT has now led financings on behalf of 8minute Solar totaling nearly $570 million for solar projects capable of generating 267 megawatts of renewable power.
- 8minute Solar Energy (8minute) is the largest privately-held developer of solar PV and storage projects in the United States.