Pivot Energy secures $500 million credit facility from Nuveen

Pivot Energy has closed a $500 million corporate credit facility with Nuveen Energy Infrastructure Capital (EIC), securing funding for late-stage project development and equipment procurement as it pursues plans to expand its operating solar and energy storage portfolio.

The Colorado-based independent power producer (IPP) and developer currently has more than 200 MWdc in operation. By the end of the facility’s three-year term, the company expects to have over 1 GW of solar and more than 700 MWh of energy storage assets operating.

"This is the most transformational financing in Pivot’s history", said Pivot Energy CEO Tom Hunt in a statement. "It reflects how far we’ve come, from an early-stage developer to an established IPP that owns and operates the assets we build. Nuveen EIC’s partnership gives us the capital to bring locally sited solar and storage projects online faster, delivering affordable, clean energy to the communities and customers we serve. We see this as the start of a long-term partnership and a key to unlock our bold growth trajectory."

Financing supports project pipeline

The bilateral agreement with Nuveen follows Pivot Energy’s closing of $173 million in takeout financing from First Citizens Bank, Huntington Bank and BankUnited. That transaction converted construction debt into a more stable loan vehicle.

In a statement accompanying the earlier financing agreement, Pivot Energy CFO Bret Labadie called the takeout loan "an important step" for the company. A company statement said the loan would "(free) up capacity in Pivot’s revolving construction facility to support continued construction of additional projects."

Pivot Energy says its development pipeline includes "dispatchable projects sited on constrained parts of the grid to improve reliability and help lower costs for ratepayers."

Community solar in operation

Among Pivot Energy’s operating assets is Project Catherine, a 4.3 MW agrivoltaic community solar installation in Cooksville, Maryland, co-developed with Chaberton Energy.

The installation offsets electricity use at the on-site St. Mary Coptic Orthodox Church, provides community solar credits to Maryland subscribers and sells a portion of its energy through a power-purchase agreement with Loyola University Maryland.

Project Catherine also hosts a sheep grazing operation during the spring, summer and early autumn. Project partners, county leaders, community members and more than 80 sheep from Wayside Farm gathered at the array at the close of the 2026 grazing season.

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