CleanPath has $200M for solar projects
Matt Cheney's CleanPath Ventures will finance utility-scale solar projects. (Photo by Paolo Vescia)
CleanPath Ventures, begun by the founders of MMA Renewable Ventures, has closed funds totaling $200 million in cash and credit that will let the startup finance 1 gigawatt of utility-scale solar projects.
As a revolving credit facility, the company said it will have $800 million of investment power over four or five years.
Matt Cheney and Karin Berardo, who left San Francisco-based MMA Renewable Ventures shortly after it was sold to Fotowatio, founded CleanPath to bridge utility-scale projects from the development phase through the construction phase.
The company declined to disclose its investors, but said they were large institutional investors.
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