Generate Capital, an investor, owner, and operator of critical infrastructure, has closed a $117 million term debt facility with MUFG to finance 18 community solar projects totaling 114 MW across Illinois and New York.

The financing supports Generate’s Community Solar Fund 11 and marks the company’s first community solar financing with MUFG. According to Generate, the transaction also expands its community solar infrastructure.

“We are pleased to partner with Generate on this financing and support the continued growth of its community solar platform,” said Fred Zelaya, Managing Director at MUFG. “Generate has built a strong track record of developing and operating high-quality distributed energy assets, and this transaction reflects our shared commitment to financing critical infrastructure that delivers reliable, affordable power to communities across the country.”

The transaction follows other financings that the company completed in 2026. During the first half of the year, the company closed approximately $1.4 billion in financing commitments across community solar, battery energy storage, and energy efficiency investments.

Among those transactions, Generate closed a 104 MW community solar portfolio alongside Monarch Private Capital. According to Generate, the portfolio includes more than 15 community solar projects expected to deliver approximately $200 million in investment tax credits.

According to the release, the company also completed a $61 million senior secured U.S. private placement to finance energy efficiency projects for an investment-grade industrial customer. The 15-year construction-to-term financing was Generate’s first 4(a)2 U.S. private placement.

Announced large-scale solar project funding increased by 71% in the first half of 2026 compared with the funding raised in the same period in 2025, according to Mercom’s recently released 1H and Q2 2026 Solar Funding and M&A report.

In July, Nadara, an independent power producer, closed a pan-European refinancing valued at approximately €1.2 billion (~$1.4 billion) for a 1.5 GW portfolio of operating wind and solar assets. The transaction covers 47 renewable energy projects in Italy, the U.K., France, Spain, Sweden, Norway, and Finland.