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Nexamp secures $340 million in institutional debt financing from PGIM Private Capital to support the expansion of 39 solar farms across seven U.S. states. The deal includes a $107 million Shelf Facility, offering capital flexibility for future solar and storage projects. This move strengthens Nexamp’s national presence and streamlines financial operations across its growing energy portfolio.
A Game-Changing Move in Clean Energy Financing
Nexamp finalizes a $340 million institutional debt refinancing with PGIM Private Capital, solidifying its standing in the U.S. distributed solar market. The funding strengthens Nexamp’s financial foundation while increasing its flexibility to scale operations. This private placement marks a strategic advancement for Nexamp, a national developer and operator of solar and energy storage systems. The deal underscores institutional confidence in Nexamp’s long-term potential and provides critical capital for expanding its infrastructure across multiple states.
What the Deal Covers: Inside the Multi-State Solar Portfolio
The transaction supports a portfolio that includes 39 solar farms spanning seven U.S. states. These assets represent a combined 150 megawatts of solar generation and 37 megawatt-hours of energy storage. This extensive development broadens Nexamp’s project base, enhancing its ability to meet escalating national demand for clean energy solutions.
This portfolio plays a key role in Nexamp’s operational scale, which already includes more than 1 gigawatt of renewable capacity currently active or under construction. The assets included in this financing reinforce the company’s distributed energy focus and integrated approach to generation and storage.
Why PGIM Backs Nexamp’s Long-Term Vision
PGIM Private Capital, the private credit division of PGIM, manages over $106.6 billion in assets and has a history of backing strategic infrastructure growth. The collaboration with Nexamp reflects PGIM’s investment criteria, targeting partners with proven execution in energy transition efforts.
Steven Hendricks, Principal at PGIM Private Capital, commented that the transaction aligns with their commitment to supporting sustainable projects. He emphasized the long-term collaboration with Nexamp as a reflection of shared goals in clean energy expansion across the U.S.
Nexamp’s National Footprint Grows Stronger
With operations currently spanning over 1 GW of capacity, Nexamp continues to expand its impact within the renewable energy sector. Several gigawatts are under active development or construction. The latest refinancing enables continued acceleration of deployment without compromising operational integrity.
By focusing on community solar models and direct access solutions, Nexamp has positioned itself within a network of distributed projects that serve both residential and commercial users. This model contributes to energy decentralization and market adaptability.
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Unlocking Flexibility: How the PPC Shelf Facility Powers Future Projects
As part of the agreement, Nexamp gains access to a $107 million Shelf Facility. This element of the deal provides access to future capital over a three-year period, allowing Nexamp to respond to upcoming project opportunities with financial agility.
This flexibility is directed toward developing new solar and storage assets in multiple states, reinforcing the company’s focus on scaling while managing risk.
Key advantages include:
- Continued expansion into underserved energy markets
- Financial streamlining for easier portfolio management
- Reduced need for repeated fundraising rounds
Building Clean Energy and Community Resilience
Nexamp’s expansion impacts more than just energy production. The new capacity supports localized energy supply, contributing to grid resilience and cost stability. The structure of the refinancing allows Nexamp to consolidate its reporting and financial structure, which in turn enables more efficient management of its growing portfolio.
With its integrated model of development, construction, and operations, Nexamp focuses on ensuring that energy savings and job opportunities are distributed across diverse communities. The company’s commitment includes extending solar access while reducing dependence on traditional fossil fuel markets.
What This Means for the U.S. Renewable Energy Landscape
This refinancing signals growing institutional backing for distributed solar models, with strategic investors recognizing the long-term value of diversified, community-based energy assets. Nexamp’s agreement with PGIM Private Capital demonstrates an alignment between capital markets and energy transition strategies.
The transaction also highlights how scale, operational maturity, and asset diversification can draw sustained financial support. Nexamp’s ongoing development pipeline, bolstered by this debt facility, reflects a broader shift toward integrated energy solutions that balance cost, reliability, and accessibility across the U.S.
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