Genie Energy Closes on Solar Generation Project Financing
Genie Energy Ltd. Class B Stock (GNE)
Last genie energy ltd. class b stock earnings: 11/8 07:30 am
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Source: GlobeNewswire
NEWARK, NJ, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Genie Energy Ltd., (NYSE: GNE), a retail energy and renewable energy solutions provider, today announced that it has closed on a loan financing on a portfolio of operating solar generation assets. The $7.4 million fixed rate term loan secured through National Cooperative Bank (NCB) provides project financing for a solar array portfolio rated for an aggregate 10MW. The arrays, which Genie purchased through its Sunlight Energy subsidiary during the past year, provide power to educational facilities in three Midwestern states through direct fixed-price solar power purchase agreements (PPAs). Michael Stein, CEO of Genie Energy, commented, “I am very pleased to complete the financing of this portfolio. These assets have generated revenue and profitability in line with expectations since we acquired them. The financing provided by NCB increases the arrays’ return on equity and more broadly, represents a key element of our solar generation st
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Sec Filings
- 12/12/24 - Form S-8
- 12/5/24 - Form 8-K
- 11/22/24 - Form 4
- GNE's page on the SEC website