Business
Soltage Closes $80 Million Syndicated Development Revolver Facility to Accelerate Solar & Storage Deployment
Soltage, a leading independent power producer developing, financing and operating distributed solar and energy storage assets across the U.S., today announced the closing of an $80 million syndicated development revolver facility. The facility is led by First Citizens Bank as sole bookrunner, administrative agent and coordinating lead arranger and EastWest Bank as coordinating lead arranger.
About this update from First Citizens Bancshares, Inc.
[{"type":"text","content":"Financing to Support Growth from 2+ GW Solar and Storage Pipeline","length":65,"tagName":"p"},{"type":"text","content":"JERSEY CITY, N.J., Dec. 16, 2025 /PRNewswire/ -- Soltage, a leading independent power producer developing, financing and operating distributed solar and energy storage assets across the U.S., today announced the closing of an $80 million syndicated development revolver facility. The facility is led by First Citizens Bank as sole bookrunner, administrative agent and coordinating lead arranger and EastWest Bank as coordinating lead arranger.","length":448,"tagName":"p"},{"type":"image","alt":"Soltage Logo (PRNewsfoto/Soltage)","displaySize":"","headline":null,"caption":"Soltage Logo (PRNewsfoto/Soltage)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":162,"url":"https://media.zenfs.com/en/prnewswire.com/d9ccf70018983f1ff01e520e67a5d9e0"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/ukFe5vcrWigKkmyvS5z_fg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI4NjtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/d9ccf70018983f1ff01e520e67a5d9e0","width":400,"height":162}},"href":"https://mma.prnewswire.com/media/716030/SOLTAGE__Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The new multi-year revolver is intended to finance development-stage expenditures — including interconnection deposits and equipment procurement — enabling Soltage to deploy capital efficiently across its growth pipeline. This marks Soltage's first major pre-notice-to-proceed (pre-NTP) financing vehicle, underscoring the company's strengthened market reputation and expanded financial capacity.","length":404,"tagName":"p"},{"type":"text","content":""This financing milestone represents a strong addition to Soltage's financial resources and underscores the confidence our banking partners have in our business model," said Chaim Grushko, Senior Vice President at Soltage. "We are grateful to First Citizens Bank and EastWest Bank for their support, and to the internal teams whose efforts brought this to fruition."","length":390,"tagName":"p"},{"type":"text","content":""We are pleased to continue our relationship with Soltage by providing this latest development financing," said Mike Lorusso, Group Head for First Citizens Bank&...