MN8 Energy (MN8), a leading renewable energy company, today (May 7) announced it has secured an $87.5 million equipment loan facility from MUFG Bank, Ltd. (MUFG) to finance solar panels and transformers supporting the Company's growing U.S. renewable energy development pipeline.
The facility provides funding for previously purchased equipment, as well as panels and transformers under existing purchase orders, including more than $72 million of safe-harbor panels. The structure enables MN8 to advance procurement of long-lead items ahead of construction financing and to maintain eligibility for federal incentives, including the Investment Tax Credit (ITC) and the Domestic Content adder.
"This facility strengthens our competitive position by allowing us to lock in long-lead equipment at scale, preserve the value of government incentives for our pipeline while allowing for efficiency across our platform towards construction," said David Callen, chief financial officer, MN8 Energy. "The partnership with MUFG signals strong institutional backing for our growth strategy and reinforces our commitment to delivering reliable, investor-grade renewable-energy assets across the U.S."
Key Financing Highlights
- Initial funding of approximately $62 million, with the ability to draw an additional $25.5 million in late 2026.
- Equipment will amortize out of the facility as projects enter MN8's construction warehouse, a $500 million vehicle also led by MUFG.
The equipment financed includes assets critical to ITC qualification and domestic-content strategies, such as First Solar modules expected to be delivered across 2026-2027 and transformers used to safe-harbor multiple utility-scale projects.
Advancing a Multi-Gigawatt U.S. Development Portfolio
The facility supports MN8's near-term project pipeline, located in WECC, PJM, and MISO. Many of these projects target service territories experiencing rapid load growth, data center expansion, or strong utility procurement signals.
The financing also positions MN8 to move equipment efficiently between MN8 subsidiaries, project companies, and its construction warehouse, ensuring streamlined project advancement while maintaining lender protections.
Continued Partnership With MUFG
MUFG is one of the top global providers of renewable energy financing, having led major sustainable energy transactions across the U.S. in recent years, including solar, storage, and grid-infrastructure financings. Their support underscores the quality of MN8's project portfolio and the company's disciplined approach to long-term development planning.
About MN8
MN8 Energy serves enterprise customers on their journey to an electrified, decarbonized world by providing renewable energy and related services. With approximately 4 gigawatts of operational and under-construction solar projects, 1.1 gigawatt hours of battery energy storage capacity across 29 states, and more than 40 high-power EV charging stations across 10 states, MN8 is one of the largest and most sophisticated independent solar energy and energy storage power producers in the United States. MN8 is headquartered in New York and has offices in South Florida, Dallas, and Madrid. Learn more at MN8.com.
MN8 Press Contact:
Candice Adams, Head of Communications
Candice.adams@mn8.com
+1 332 345 2243
