Fluence Corporation has secured a $50 million non-recourse debt facility for financing build, own, operate and transfer projects.
The facility is provided by a US-based sustainable infrastructure investment firm with a track record in infrastructure and renewable energy projects.
Fluence will have access to the facility on a project-by-project basis for three years, and aims to use it to support growth in recurring revenue business.
The facility can be applied to projects around the globe, enabling Fluence to close contracts rapidly, and helping to overcome a common hold-up to project development.
“This is a major step forward for Fluence, which now has ready access to the funding needed to undertake projects… particularly those using our fleet of smart packaged systems,” said Fluence chief financial officer Francesco Fragasso.