Renewable energy owner/operator No Fossil Fuel LLC has obtained financing for its 6 MW Kingston Wind project, located in Massachusetts.
The financing package – arranged by service provider Skystream Markets – was structured as a $6.5 million senior secured loan provided by a third-party institutional financing source.
‘Access to capital is a typical growing pain experienced by small businesses,’ says Michael Frenette, No Fossil Fuel's chief financial officer. ‘Securing this loan was essential to position ourselves for the future development of renewable energy projects.’
‘The No Fossil Fuel transaction is a great example of how we combine our expertise in the renewable energy certificate markets to identify, structure, and raise capital for renewable energy developers,’ notes Christian Hofer, Skystream's senior associate.
