Cit serves as lead arranger of $88 million financing for texas battery energy storage system

New york , july 20, 2022 /prnewswire/ -- cit, a division of first citizens bank, today announced that its power and energy business arranged $88 million in financing for a 173-megawatt stand-alone merchant battery storage facility in texas. the borrower, wolf tank storage, is an affiliate of aypa power development, which develops, owns and operates numerous utility-scale energy storage and hybrid renewable energy projects that assist in the decarbonization of the electrical grid.
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