Convergent Energy and Power Closes Ground-Breaking Financing Facility from Mitsubishi UFJ Financial Group for its Distributed Energy Storage Project Pipeline [Yahoo! Finance]
Mitsubishi UFJ Financial Group, Inc. (MUFG)
Company Research
Source: Yahoo! Finance
NEW YORK, December 11, 2024 BUSINESS WIRE )--Convergent Energy and Power (Convergent), a leading provider of distributed energy storage solutions in North America, today announced that it has closed a programmatic construction-to-term loan, tax equity bridge loan, and letter of credit facility with Mitsubishi UFJ Financial Group (MUFG). The funding will provide capital for Convergent to accelerate construction of its energy storage and solar PV portfolio across North America. The facility is structured such that Convergent will receive funding for its near-term distributed-scale systems as the company breaks ground on hundreds of millions of dollars of additional energy storage and solar PV systems. The initial facility anticipates $150M in funding and provides a framework for future financing rounds as Convergent adds to its existing pipeline of over $1bn in opportunities. "This construction facility ensures that we will continue to be a leader in providing cheaper, cleaner, and
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MUFG
Earnings
- 8/2/24 - Beat
MUFG
Sec Filings
- 1/7/25 - Form 424B2
- 1/7/25 - Form FWP
- 1/6/25 - Form 424B5
- MUFG's page on the SEC website