Adapture Secures $321 Million from MUFG for U.S. Solar Portfolio Financing

Stoel Rives represented Adapture Renewables in obtaining $321 million in debt financing from Japan’s Mitsubishi UFJ Financial Group that the company will use to develop a 441 MW portfolio of three solar projects in Arkansas and Illinois. The portfolio, called Titanium, will be Adapture’s largest to date. The financing is structured as a construction line and a tax credit bridge loan.

Adapture Renewables is helping to accelerate the global transition to clean energy by developing, acquiring, building, owning, and operating utility-scale solar facilities and energy storage systems nationwide.

Alex Mertens and Heather Stewart led the Stoel Rives deal team, which included Meagan Smith, Kevin Pearson, Michael Such, Melissa Foster, and others.

For more on the deal, see this PV Tech article.