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Pivot closes $173 million term loan for 135 MWdc distributed solar portfolio

The October 8 company release describes takeout financing for 51 projects in six states, not a fresh construction announcement or household savings guarantee.

By Greener Numbers Editorial Team · Published October 9, 2026 · Updated 10/9/2026

Pivot Energy's October 8 announcement reports a $173 million term loan facility for 51 community-scale solar projects totaling 135 MWdc across six states. The capacity is a direct-current rating, not annual electricity generation or a verified number of households served.

First Citizens Bank, Huntington Bank and BankUnited provided the takeout financing, according to Pivot. The company calls this its first term loan financing, distinguishing it from earlier construction financing arrangements.

The facility refinances projects from Pivot's construction warehouse and combines its first three portfolios under one term structure. That is not the same as a fresh $173 million construction budget for 51 newly announced projects.

Pivot says the transaction also frees capacity in its revolving construction facility for additional projects. This is the company's description of financing flexibility, not evidence that every future project has reached construction or commercial operation.

The announcement concerns distributed and community-scale solar. It does not provide a customer subscription price, a household bill-savings guarantee or a universal offer for readers in all six states. Local project eligibility and any subscription terms would need separate verification.

For readers following solar development, the useful distinction is between construction financing and longer-term financing of a portfolio. The announced loan supports Pivot's portfolio structure; it does not by itself establish when any particular project will supply electricity to customers.

Official source: pivotenergy.net ↗