Pivot Energy Secures Over $225 Million from Three Existing Lenders to Advance Community Solar Projects | FCNCA Stock News

, /PRNewswire/ -- Pivot Energy ("Pivot"), a leading national renewable energy provider and independent power producer, today announced three important financing agreements totaling $225 million, showcasing the company's continued momentum and commitment to scaling renewable energy production and distributed generation solar.The financing includes:$170 million upsize to an existing construction warehouse facility with ATLAS SP ("ATLAS") and First Citizens Bank ("First Citizens"), supporting a new portfolio of approximately 60 community solar projects, equivalent to 225 Megawatts (MW) in Illinois, Colorado, Maryland, Virginia, New York, Pennsylvania, Delaware, Michigan, and California.$40 million equipment facility with First Citizens, supporting purchases of domestically made solar panels from Silfab Solar Inc.$15 million corporate financing facility with Comerica Bank ("Comerica").This announcement follows Pivot's $450 million debt warehouse facility secured last year, which was led by First Citizens and ATLAS and ranks among the largest-ever raised by a distributed generation solar company. With these new financing agreements, Pivot's total financing in 2025 now stands at $435 million.Despite federal policy headwinds, this additional $225 million in financing demonstrates the strength and resilience of leading solar developers and asset owners in attracting capital. Backed by Energy Capital Partners ("ECP"), one of the largest private owners of power generation, Pivot is positioned to continue scaling distributed generation nationwide. As demand for reliable energy grows, solar and storage remain the fastest deploying and most cost-effective solutions for meeting that need."We deeply appreciate the expanded commitments from ATLAS, First Citizens, and Comerica, proving the benefit of strong partnerships and that the momentum is strong for the renewable energy industry," said Tom Hunt, CEO of Pivot Energy. "Pivot Energy continues to show its strength in its strategic diversity and plans to keep growing and building distributed generation projects that contribute to a reliable electricity grid, help lower electricity prices, and meet energy demand across the country.""Pivot continues to prove its ability to develop, build and manage community solar projects across diverse markets," said Spencer Hunsberger, Head of Energy Origination at ATLAS. "ATLAS is proud to support Pivot's growth during a dynamic policy environment by committing the majority of the recent warehouse upsize. This expanded facility helps unlock the next phase of growth for Pivot, and we look forward to seeing the impact of these projects in advancing clean energy goals nationwide.""We are pleased to continue to build upon our relationship with Pivot Energy," said Mike Lorusso, Head of First Citizens Bank's Energy Finance business. "Our team worked collaboratively to significantly expand the construction warehouse we closed last year, while structuring a long-term equipment financing facility that secures Pivot's access to safe-harbored investment tax credits for years to come. With this latest financing, Pivot is well-positioned to accelerate growth and confidently execute its renewable energy pipeline."About Pivot EnergyPivot Energy is a renewable energy provider and independent power producer that develops, finances, builds, owns, and manages solar and energy storage projects. Pivot leverages its renewable expertise to provide a range of unique offerings that accelerate the clean energy transition by helping companies and communities attain impactful decarbonization. Pivot is a U.S.-based Certified B-Corporation that proudly follows a corporate strategy aimed at providing a positive impact on society as measured by Environmental stewardship, Social leadership, and responsible Governance factors. Pivot Energy is an ECP portfolio company. Learn more at pivotenergy.net.About ATLAS SP PartnersATLAS is a global investment firm providing stable capital, financing, advisory and institutional products to market participants seeking innovative and bespoke structured credit and asset-backed solutions. ATLAS is proud to build upon a legacy of client excellence that includes certainty of execution, deep expertise and full-service capabilities across the asset management landscape. For more information, visit www.atlas-sp.com.About First Citizens BankFirst Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 500 branches and offices in 30 states; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.SOURCE Pivot Energy