First citizens bank serves as lead arranger on $211 million financing for north carolina solar power development

New york , july 25, 2023 /prnewswire/ -- first citizens bank today announced that its energy finance group, part of the cit division, served as sole lead arranger on $211 million in financing for the 200-megawatt oak solar power plant in gaston, north carolina. sunenergy1 llc, based in mooresville, north carolina, plans to build the solar power facility in two phases, with 100% of the power being sold to the mcdonald's corporation under 17-year power purchase agreement.
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