AES advances a 215-megawatt portfolio of community solar energy projects across New York, Massachusetts, and Illinois by securing a $301 million debt facility

The AES Corporation (NYSE: AES) announced that it has entered into a $301 million debt facility that will supply long-term financing for a 215-megawatt (MWdc) combined capacity portfolio of community solar energy projects.  Community solar is a fast-emerging model for solar development throughout the country because it allows residents and business owners to access the benefits of solar without needing to install a solar system on their property. AES’ leading community solar portfolio is accelerating the transition to a carbon-free future by promoting access to safe, affordable, and accessible renewable energy.  


The $301 million debt facility is the second community solar financing transaction for AES in the last two years. The aggregate amount of the facilities arranged by Silicon Valley Bank (SVB), KeyBank N.A., and Nomura, exceeds $600 million, making this one of the largest debt financing packages raised for a portfolio of community solar projects.  


The debt facility will support approximately 30 community solar projects that will provide reliable and cost-effective renewable energy solutions to utilities, municipalities, schools, and corporate customers throughout New York, Massachusetts, and Illinois.  In addition to serving commercial and utility customers, this debt facility also funds projects serving residential customers in New York through the NY Community Solar program and low-and-moderate-income (LMI) households in Massachusetts through the MA SMART Program.  


"This financing commitment showcases our ability to fund a wide range of renewable energy solutions designed to meet our customers’ needs, equitably benefit communities, and achieve a carbon-free future," said James Marshall, Chief Financial Officer of AES Clean Energy. "I am proud of the strength of our relationships and continued collaboration with our financing partners in securing this deal and supporting the realization of 30 impactful community solar projects." 


“We are proud to expand our relationship with AES Clean Energy as it advances its mission to accelerate the future of energy,” said Bret Turner, Market Manager of project finance at Silicon Valley Bank. “SVB supports the energy transition by providing market liquidity and financing for innovative projects such as community solar portfolios.”  

“We are delighted to continue to support AES Clean Energy in making renewable energy more accessible to everyone,” said Andrew Redinger, Managing Director & Group Head, Utilities Power & Renewables at KeyBanc Capital Markets. 


“Nomura has extensive experience financing renewables, including community solar, across the United States,” said Vinod Mukani, Head of Nomura’s Infrastructure and Power Finance group. “We are always excited to work with top-flight teams like AES Clean Energy, who are accelerating the energy transition.” 


For media inquiries, please contact Lara Hamsher, AES Communications Manager, at




About AES 

The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today. For more information, visit


About Silicon Valley Bank  

For more than 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international, and private banking services, SVB helps address the unique needs of innovators. As a long-time backer of the cleantech and energy ecosystem, SVB has a quickly growing project finance business dedicated to renewable energy projects. Learn more at  


About Nomura  

Nomura is a global financial services group with an integrated network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its four business divisions: Retail, Asset Management, Wholesale (Global Markets and Investment Banking), and Merchant Banking. Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. Nomura’s Infrastructure and Power Finance business provides a diverse pool of financing solutions to project owners globally. For further information about Nomura, visit 


About KeyCorp  

KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $145.0 billion at December 31, 2019. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,100 branches and more than 1,400 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit KeyBank is Member FDIC.