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Apricus Generation Secures $30M Development Financing Facility with AUB

Apricus Generation Secures $30M Development Financing Facility with AUB

Apricus Generation, a holding company dedicated to creating a solar and battery development and Independent Power Producer (IPP) platform, has revealed the creation of a new $30 million revolving credit facility with Atlantic Union Bank (AUB).

This collaboration marks a key milestone in Apricus Generation’s growth journey, building on the momentum from its successful Series A funding round in September of 2024. The company stated at the time that it is “over-committed” towards its $100 million goal.

“This facility provides us with additional financial flexibility to advance our development pipeline more efficiently and support our expanding portfolio of solar and battery storage projects,” said Gautam Chandra, executive chairman and co-founder of Apricus Generation.

The financing facility arrives during a period of strong momentum for Apricus Generation, which recently secured a majority stake in Nexus Renewables, Inc., a Toronto-based company developing solar and energy storage projects in the US.

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Apricus GenerationAtlantic Union Bank

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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