Funding
Credit facility · Climate tech

38 Degrees North closes $260m community-solar credit facility

Apterra arranges financing for approximately 85 MW of construction in New York and Illinois.

Updated Oct 15, 2026By RoundOS Funding desk

Project construction after HoldCo financing

Apterra serves as administrative agent and sole bookrunner, with Stifel and National Bank of Canada also acting as joint lead arrangers. BankUnited is collateral agent, and Farmer Mac, Amalgamated Bank and Siemens Financial Services join the lender group.

This construction facility follows a separate HoldCo financing with EIG announced in August. Together, the transactions give 38 Degrees North capital at different levels of its business as it advances its community-solar pipeline.

Use of funds

Fund distributed generation and community solar project development and construction

Funding history

Credit facility · This round$260M

Sources

  1. businesswire.com

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