Alight secures $47 million portfolio financing facility

Alight's securing of a $47 million portfolio financing facility from SEB signifies continued investment in behind-the-meter (BTM) solar projects across Europe. This financing will likely support Alight's expansion and development of distributed solar generation assets, leveraging SEB's established presence in infrastructure financing and Tenergie's investment expertise in renewable energy. The deal structure, a portfolio financing facility, suggests Alight is developing multiple projects simultaneously, allowing for efficient deployment of capital across its European operations. The involvement of SEB, a major Nordic financial institution, lends credibility to Alight's business model and the viability of BTM solar in Europe. Tenergie's participation as an investor further underscores the attractiveness of the renewable energy sector. This deal contributes to the broader trend of increasing financial activity in distributed generation, as companies seek to reduce their carbon footprint and energy costs. The financing will likely enable Alight to scale its operations and contribute to the growth of the European solar market.