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Alternative Assets  + Real Assets  |  March 28, 2025
Apricus Generation Secures $30M Development Financing Facility with AUB
Joe Palmisano
By: Joe Palmisano

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 of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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