Crux, a clean energy finance platform, has closed a $500 million debt financing facility with Nuveen Energy Infrastructure Credit, Nuveen’s infrastructure credit investment platform.

Skadden, Arps, Slate, Meagher & Flom served as Crux’s legal adviser. Milbank served as legal adviser to Nuveen.

Crux said it will use the facility to finance Crux-led tax-driven investments. These investments include hybrid tax equity transactions.

The financing expands Crux’s role as a general partner in tax-driven investment strategies. The company said it expects to continue committing capital alongside institutional partners as the U.S. clean energy tax equity market grows.

The financing follows Crux’s expansion beyond transferable tax credits into debt, preferred equity, and tax equity. The company said it has executed over $1 billion in signed term sheets since launching its tax and preferred equity offering. It has also issued more than $9 billion in indications of interest.

“We founded Crux to unlock bottlenecks in the financing of clean and critical infrastructure, and this facility marks a major milestone in that mission,” said Alfred Johnson, co-founder and CEO of Crux. “Our multi-disciplinary team, market-leading data, and AI-powered platform give us advantages in underwriting and executing deals across a growing, diversified pipeline. With this facility, we are well-positioned to invest at the speed and volume the current moment demands.”

Crux said its publicly announced transactions include a $340 million tax equity investment for a 413 MWdc utility-scale solar project in Texas. The company said its transactions are typically structured as hybrid partnership flips to monetize tax credits.

Announced debt financing in the solar sector came to $8.9 billion in the first quarter of 2026, 154% higher compared to $3.5 billion in Q1 2025, according to Mercom’s Q1 2026 Solar Funding and M&A report.

In February 2025, MN8 Energy closed $612 million in construction bridge financing with Natixis Corporate & Investment Banking to support the development and construction of three solar projects totaling 517 MW across North Carolina, Kentucky, and Illinois.