Madison Energy

Overview:

Renewable energy is critical to reducing greenhouse emissions and building a more sustainable future. Madison Energy Infrastructure (MEI) builds, owns, and operates commercial and industrial solar and energy storage projects on site to help drive down energy costs for their customers, ranging from college campuses and nonprofits to commercial manufacturers.

Based in Mclean, VA, Madison Energy’s portfolio has a solar capacity in excess of 500 megawatts and counting across 25 states. Madison has hundreds of completed and operational ground, rooftop, and carport projects, with more in construction or development.

The Approach:

To support the company’s continued development of renewable energy projects, Forbright participated in the refinance of an existing $250 million credit facility with a new $450 million credit facility to support the growth of their portfolio.

Results:

As a result of this financing, Madison Energy could expand their renewable offerings beyond their existing portfolio of 163 completed projects. MEI now has another, and 34 in-construction projects expected to come online in the next year!

Conclusions:

Through financial support and partnership from financial organizations like Forbright Bank, organizations such as Madison Energy can continue to invest in growing sustainable energy solutions, driving down energy costs and creating a low-carbon economy.