CleanCapital has secured $300 million in financing from Infranity to expand its U.S. distributed solar and energy storage portfolio. The facility is structured as HoldCo debt, with Infranity acting as the sole lender. Proceeds will fund development, construction, acquisitions, and operations across a national DG portfolio.

The key insight is the use of HoldCo debt for a distributed generation platform at this scale. This is not project-level leverage tied to individual assets. It is balance-sheet capital underwritten against portfolio performance, execution capability, and pipeline visibility.

That matters because distributed solar has historically relied on fragmented, asset-by-asset financing. By stepping in at the holding company, Infranity is signaling confidence in CleanCapital’s ability to aggregate risk, manage operating complexity, and recycle capital efficiently across hundreds of smaller assets.

CleanCapital’s operating profile supports this structure. The company owns 350+ projects totaling over 500 MW, added nearly 200 MW in 2025, and has stated a development pipeline of more than 1 GW. Scale, repetition, and internal execution reduce volatility, which is exactly what HoldCo lenders look for.

Commercially, this points to a maturing DG market. Lenders are no longer just financing assets; they are financing platforms. As portfolios get larger and more standardized, expect more institutional capital to move up the stack, compressing cost of capital for operators that can prove discipline and delivery.

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