Core Insights - Greenbacker Renewable Energy Company has successfully closed a $440 million Tax Equity Commitment for the Cider solar project, which is a significant milestone in financing the 674 MWdc / 500 MWac solar farm in New York [1][2][3] Financing Details - The $440 million tax equity financing from U.S. Bank and M&T Bank is crucial for optimizing the financial structure of the Cider project, which is expected to commence commercial operations in late 2026 [2][4] - This financing completes the capital stack for the project, following nearly $1 billion in previous financing from global project finance banks [4] Project Impact - Once operational, the Cider solar project is anticipated to power approximately 120,000 homes annually and generate around $100 million in revenue for the local community through various financial contributions [2][5] - The project is expected to create hundreds of construction jobs and significantly contribute to New York's clean energy transition [5] Leadership Commentary - Greenbacker's CEO highlighted the importance of this financing in delivering a major clean energy project and emphasized the strength of partnerships involved [3] - The CFO noted that the tax equity commitment optimizes the capital structure and is essential for advancing the project [3] Company Background - Greenbacker Renewable Energy Company focuses on acquiring and managing income-producing renewable energy projects, including solar and wind farms, and aims to facilitate the transition to a clean energy future [8]