Urban Grid Completes $ 275 Million Debt Refinance Provided By Crayhill Capital Management | State

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RICHMOND, Virginia., 12 October 2021 / PRNewswire / – Urban Grid, one of the largest developers of all-new renewable energy projects in the United States, today announced that it has extended and expanded its partnership with Crayhill Capital Management, a manager of New York-based private credit with minority interests specializing in investments in the renewable energy sector.

Funding offers Urban Grid $ 275 million flexible and efficient capital that will be deployed to move projects forward into the construction phase and continue to scale Urban Grid’s solar and energy storage platform.

“Since 2019, our partnership with Crayhill Capital Management has enabled the growth and supported the monetization of certain projects in our solar PV and energy storage pipeline,” said Frank DePew, founder and CEO of Urban Grid. “Access to this highly flexible capital allows our team to drive projects through final development and operation, in multiple regions, benefiting the surrounding clean energy savings while enhancing the value of the business. our entire platform.

Today, the Urban Grid project pipeline comprises 12.7 GWCC of PV and 3.7 GWTHAT co-located and autonomous energy storage.

“Crayhill is delighted to continue to partner with the Urban Grid team and support the growth and development of its business,” said Josh Eaton, Managing Partner of Crayhill Capital. “The demand for high-quality solar projects continues to be strong and Urban Grid is well positioned to expand its leadership role in the development of large-scale solar power and storage in the United States. the global energy transition. “

Over the past 2+ years, Urban Grid has effectively expanded its team to over 60 people, deepening its in-house expertise in project development, engineering and origination and building proprietary technology across the platform. form. The continuation of the Urban Grid and Crayhill partnership is important and strengthens the company’s capabilities – to deploy capital efficiently and profitably – as it prepares to deploy at least 8 GW of clean energy over the next five years. coming years.

About the urban grid

Urban Grid is a utility-scale renewable energy project developer, with over a decade of expertise in supporting solar and energy storage projects throughout the development process, from the acquisition of the site to the interconnection, the authorization, the execution of the withdrawal and the exit of the project. Based at Richmond, Virginia – with teams strategically located across the United States – Urban Grid has provided utilities and business customers with clean, reliable power. We are actively developing a growing portfolio of over 12.7 GWCC Solar PV and 3.7 GWTHAT co-located / autonomous energy storage facility in 12 states in support of America’s transition to clean, sustainable energy. For more information, please visit UrbanGridSolar.com.

About Crayhill Capital Management

Crayhill Capital Management is a New York-based, minority-owned alternative asset management firm that specializes in asset-based investment opportunities. The company was launched in August 2015 and is registered with the United States SEC as an investment advisor. Crayhill strives to provide capital solutions through tailor-made financing structures. Its asset-based investment strategies are based on in-depth industry expertise and relationships in the structured finance and specialized finance markets. For more information, please visit https://crayhill.com or email [email protected].

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SOURCE urban network


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