Pivot Energy Secures $173 Million Loan for Expanding Solar Portfolio Across Six States

Pivot Energy Closes $173 Million Term Loan Facility for 135 MWdc Solar Portfolio

On October 8, 2026, Pivot Energy, a prominent independent power producer specializing in distributed solar and energy storage, announced a pivotal milestone in its journey toward enhancing renewable energy access. The company successfully secured a term loan facility amounting to $173 million, aimed primarily at financing a robust portfolio of 51 community-scale solar projects totaling 135 megawatts direct current (MWdc), distributed over six states.

This strategic financial move was made possible through the collaboration of long-time financial partners First Citizens Bank, Huntington Bank, and BankUnited. By refinancing these projects from Pivot's construction warehouse, the loan consolidates the company's initial three portfolios under a singular financial structure, marking their inaugural experience with term loan financing.

According to Bret Labadie, Chief Financial Officer of Pivot Energy, closing this term loan across a consolidated portfolio represents a significant advancement for the company. In a statement, Labadie expressed gratitude towards First Citizens, Huntington, and BankUnited for their continuous support since Pivot's inception. The newly acquired financing will enable Pivot to accelerate its growth, allowing the company to provide lasting benefits to the communities where they operate. These benefits encompass community investments, agrivoltaics initiatives, job creation, and broader economic development.

As the energy landscape evolves, Pivot Energy is keen on working closely with utilities, corporate energy buyers, and ratepayers. They aim to deliver reliable local power solutions that contribute positively to the resilience of the electricity grid.

Mike Lorusso, head of First Citizens Bank's Energy Finance division, commented, "We are excited to further deepen our long-standing partnership with Pivot Energy. This financing not only showcases the strength of Pivot's diverse distributed solar portfolio but also underscores our commitment to support their ambitious growth trajectory."

Since its establishment in 2009, Pivot Energy has emerged as a leading national renewable energy provider and independent power producer. The company focuses on developing, owning, and operating solar and energy storage projects that generate economic, social, and environmental value. As a certified B Corporation, Pivot Energy prioritizes mission-driven initiatives while delivering top-notch renewable energy solutions tailored to benefit both businesses and communities across the United States. To learn more about their initiatives and offerings, visit pivotenergy.net.

This new loan facility marks a critical juncture for Pivot Energy, allowing them to leverage additional financial resources to propel their construction capacities for more solar projects, thereby enriching the green energy landscape as a whole. The company stands firm in its commitment to fostering community wealth and sustainable practices while positioning itself as a dominant player in the renewable energy sector.