Palladium Energy, a Jacksonville-based renewable energy company, secured a $66 million loan from Voya Investment Management, the company announced July 7.\u00a0<\/p>\n
The loan will support further development of 300 megawatts in sustainable energy sources in South Carolina, the company wrote in a news release. The development in South Carolina is part of a growing investment into infrastructure across multiple markets.\u00a0<\/p>\n
\u201cThis financing marks a significant milestone for Palladium and a strong endorsement of the platform we have built, our team\u2019s execution capabilities, and the high-value, advanced-stage project pipeline we continue to develop,\u201d Danny Weidlich, co-founder and CEO of Palladium, said in the release.\u00a0<\/p>\n
Voya\u2019s investment came through the company\u2019s renewable energy and sustainable infrastructure debt platform.<\/p>\n
\u201cWe are pleased to support Palladium Energy in advancing a high-quality portfolio of utility-scale solar projects. This transaction reflects our continued commitment to financing renewable energy projects and partnering with experienced developers to accelerate the transition to a more sustainable energy system,\u201d Edward Levin, Voya\u2019s managing director and co-head of direct infrastructure, said in the release.\u00a0<\/p>\n
Founded in Jacksonville in 2019, Palladium builds renewable energy infrastructure by leasing and purchasing private property for development. That energy can be sold back to utility companies through long-term contracts, according to Palladium\u2019s website.<\/p>\n
Since its founding, Palladium says it has developed 6,449 MW of power.<\/p>\n
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