Citicore Renewable Energy Corp. said Friday it signed a $100-million financing deal for solar development vehicle Citicore Solar Energy Corp.
with Pentagreen Capital, a sustainable infrastructure debt financing partnership established by shareholders HSBC and Temasek.
It also includes the Bolbok 1 and Bolbok 2 projects with a capacity of 72 MW and 100 MW, respectively which are expected to begin construction in the fourth quarter. The initial tranche will provide funding for the construction of four greenfield projects and two more that were recently completed. CREC was recently awarded 916.58-MW solar capacity installation under the DOE’s Green Energy Auction Program 2.
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