Professional Business Bank Bridge Bank Energy and infrastructure Group (EIG), today announced that for the the certain solar installation project in the U.S. reached a value of $ 13 million financing agreement. MP2 Capital, the U.S. investment institutions True Green Capital Management and EPC contractor in New Jersey, Rhode Island and North Carolina project has access to funds.
EIG is a subsidiary of Bridge Capital Holdings, $ 7.2 million of funds provided to the True Green Capital Management, is committed to the construction of a PV inverter installation project in Rhode Island, the project is to provide energy to a large public sector, the public sector for the Northeast Ministry and several solar installation project in New Jersey consumers and commercial markets to provide electricity.
Bridge Bank also recently provided more than six million U.S. dollars of funds to the MP2 Capital, for the development and construction of solar power stations in North Carolina, the power plant to provide energy for U.S. investors hold a large public sector. New Jersey has 4GW of solar deployment target, and this year alone Just Energy Group's Energy Company, Hudson Energy Solar $ 12 million financing for solar projects being developed.
In the next two years, North Carolina from Germany for renewable energy companies, Greenex the hands of two hundred million U.S. dollars to the construction of the photovoltaic solar grid tie inverter project. The first 50MW installed capacity of the project will be the largest photovoltaic system in the state.
In addition, North Carolina, obtained from the U.S. Department of Energy research and development projects in nine million U.S. dollars, as part of its solar energy plan (Sunshot Initiative).
The the partners concurrently True Green Capital Management Chief Executive Officer Panos Ninios said: "as a distributed private equity investors in the field of solar power, we need a facility for several commercial rooftop solar controllersolar installation project financing." "Bridge to understand this concept and be able to pursuant to a loan agreement, in an efficient, cost-effective and customer-friendly way to construct, conduct due diligence and closing multiple facilities. "
EIG was established in 2011 to provide funding for projects in the range of one to ten megawatts of solar developers. Since its establishment, EIG has been made to project developers throughout the United States released more than $ 75 million in loan commitments. In the past seven years, Bridge Bank has a firm foothold in the field of alternative energy. During that time, the bank has applied to companies engaged in renewable energy and solar energy projects to expand to more than $ 150 million in loans and credit commitments.