True Green Capital gets CIT Debt for 70 MW of Community Solar in NY

January 28 (Renewables Now) – US bank holding company CIT Group Inc (NYSE:CIT) has provided USD 42.8 million (EUR 38.9m) in debt for a 70-MW portfolio of community solar projects in New York state.

The so-called NY Solar Farms portfolio is owned by the third fund of energy infrastructure asset manager True Green Capital Management LLC. Featuring 10 projects across six locations in the central and northeastern parts of the state, the photovoltaic (PV) portfolio is one of the largest ones of its kind, the lender said on Monday.