SWFI First Read, March 29, 2017

CIT Finances Battery Storage System in Los Angeles

CIT led the non-recourse project financing of a 50 megawatt fleet of behind-the-meter, battery storage systems located in certain grid-constrained pockets of the West Los Angeles Basin. Macquarie Capital had acquired the asset from Advanced Microgrid Solutions in August 2016. Since the August acquisition, Macquarie and Advanced Microgrid Solutions have been jointly developing and constructing the portfolio, which is expected to come online in phases over the next 12-24 months. Advanced Microgrid Solutions is acting as the asset manager of the projects.

PIF Plans to Expand Investments in Jordan, Forms New Investment Company

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