ACT Capital Advisors has secured $30 million in development line financing from Pathward, N.A. on behalf of Teichos Energy, LLC, a utility-scale renewable energy developer. BridgePeak Energy Capital, LLC served as lender service provider to Pathward. Teichos plans to use the capital to support continued development of its late-stage solar-energy projects.
The transaction was led by ACT Managing Directors Brad Bodenman and Matt Latimer. Teichos Energy is a Seattle-based developer founded in 2012, led by CEO Steve Voorhees. BridgePeak, founded in 2020, services a $4.79 billion commercial loan portfolio and has closed more than $6.06 billion in loans to US-based energy projects across 27 states.
KEY QUOTES:
“ACT Capital was pleased to work with Pathward, BridgePeak, and Teichos Energy to facilitate this transaction and help deliver a tailored capital solution to a growing solar-energy developer.”
Brad Bodenman, Managing Director, ACT Capital Advisors
“This development line will give our company access to new capital and help us advance a variety of solar-energy projects in Northeastern United States. We greatly appreciate the support of ACT Capital, Pathward, and BridgePeak and their close cooperation in working with our talented team.”
Stephen Voorhees, CEO, Teichos Energy
