CleanPath has $200M for solar projects

Matt Cheney's CleanPath Ventures will finance utility-scale 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.

From San Francisco Business Times.

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