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Please visit www.aresmgmt.com for additional information. Ares Management’s global platform had $149 billion in assets under management as of March 31, 2020 with more than 1,200 employees in over 20 offices in more than 10 countries. Ares Infrastructure and Power (“AIP”) strategy seeks to provide flexible capital for cash-generating assets across the climate infrastructure, natural gas generation, and energy transportation sectors. “We are thrilled to have worked with our leading capital partners to continue building upon the growth opportunity in residential solar,” said Andrew Pike, Partner and Co-Head of Ares Infrastructure and Power. ING Capital LLC is a financial services firm offering a full array of wholesale financial lending products and advisory services to its corporate and institutional clients. U.S. Bank and other investors provided $50 million of tax equity to a subsidiary of Solar III. ARES PRISM is the standard for UK rail projects, managing more than £50 billion in scope. Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager operating integrated businesses across Credit, Private Equity and Real Estate. Ares Infrastructure and Power ("AIP") seeks to provide flexible capital for cash-generating assets across the climate infrastructure, natural gas generation, and energy transportation sectors. shocks both fans and Alex Trebek: 'I cannot recall the last time', The Only Animal Considered Immortal by Scientists, Trump 'army' of poll watchers could frighten voters, incite violence, election officials warn, How ride-share services are helping vulnerable voters get to the polls: 'Their voice is just as important as ours', http://www.prnewswire.com/news-releases/renew-and-ares-infrastructure-and-power-to-provide-energy-efficiency-infrastructure-projects-to-customers-301104761.html. RENEW Media Contact:Michael Savage888-938-6256 x 703MSavage@Renewep.comwww.RENEWEP.com, View original content to download multimedia:http://www.prnewswire.com/news-releases/renew-and-ares-infrastructure-and-power-to-provide-energy-efficiency-infrastructure-projects-to-customers-301104761.html, Melissa Kelley-Hilton Launches Hilton Global Associates, a Worldwide Due Diligence Investigations Firm, All Seniors Drivers Should Claim This Large Reward, Capital Introduction in Alternative Investing Disrupted by Context 365, Hedge Funds Are Cashing Out Of Ares Capital Corporation (ARCC), Buyout fund behind Mountain Warehouse seizes Sparta Global, Take A Look At The Top 30 Biggest Idiots On Water, New Luxury Production Pole Established in Italy, 'Sexual preference': Why Amy Coney Barrett's use of the term ignited criticism in the Senate and across the internet, Barron Trump also tested positive for COVID-19, first lady says, Only Certain People Can See The Hidden Image, PennyMac Financial Services, Inc. ING Capital LLC is an indirect U.S. subsidiary of ING Bank NV, part of ING Groep NV (NYSE: ING), a global financial institution with a strong European base. ING Capital LLC is an indirect U.S. subsidiary of ING Bank NV, part of ING Groep NV (NYSE: ING), a global financial institution with a strong European base. USBCDC's commitments provide capital investment to areas that need it the most and contribute to the creation of new jobs, the rehabilitation of historic buildings, the construction of needed affordable and market-rate homes, the development of renewable energy facilities, and the generation of commercial economic activity in underserved communities. In conjunction with the capital raise, the Sponsors also executed on a 7-year $146 million senior secured financing with IGS Resi OpCo II, LLC (the “Borrower” and the operating company of the consolidated Solar Platform), which included a $140 million term loan facility and a $6 million letter of credit facility. Ares Management’s global platform had $149 billion in assets under management as of March 31, 2020 with more than 1,200 employees in over 20 offices in more than 10 countries. "Executing on Solar III is a testament to the strength of our partnership with IGS and the essential services provided by our market-leading Solar Platform. WELLS FARGO INVESTMENT INSTITUTE, INC. is an adviser to the fund. With the addition of Solar III, the Solar Platform is expected to build an aggregate portfolio of approximately 11,000 residential solar projects across nine states and totaling approximately 100 megawatts. "Investing in residential solar is one of the key ways U.S. Bank can be a responsible steward of the environment, provide job growth and savings to homeowners.". "RENEW has been singularly focused on reducing climate emissions from Commercial, Industrial and Institutional buildings through innovative funding solutions since our inception in 2013. Solar III’s capital commitments are comprised of cash equity from the Sponsors, tax equity, and debt that will be deployed to fund a portfolio of approximately 4,000 residential solar power installations with 25-year power purchase agreements or leases across multiple states. Together with previous investment vehicles, the Solar Platform has raised nearly $450 million in total capital commitments. With its energy-as-a-service model, energy upgrades and retrofits are funded by future savings and are at no cost to the building owner. Ares Management’s investment groups collaborate to deliver innovative investment solutions and consistent and attractive investment returns for fund investors throughout market cycles. View the full release here: https://www.businesswire.com/news/home/20200602005219/en/. This press release features multimedia. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. The investment will support RENEW's "energy-efficiency-as-a-service" business, which provides building owners and businesses with a turnkey solution for the design, construction, funding, and oversight of energy-efficiency retrofits. ", "We’re excited to partner with IGS and Ares to advance the deployment of residential solar across the U.S," said Marissa Jacobus, renewable energy investments project manager with U.S. Bancorp Community Development Corporation, the tax credit and community investment subsidiary of U.S. Bank. PosiGen announced a new debt facility originated by the Ares Infrastructure and Power team and provided by Ares-managed funds and accounts. Ares Management Corporation ("Ares"), through funds managed by its Infrastructure and Power strategy and IGS Ventures ("IGS" together with funds managed by Ares Infrastructure and Power the "Sponsors") announced the completion of a $150 million capital raise for IGS Resi Solar III, LLC ("Solar III"). Initially formed as a spin-off of the Gnutella network, Ares quickly developed its own infrastructure and transitioned to its own Ares Download network. “We fully support the build out of residential solar and the renewable sector in general and are happy to be able to partner with the Sponsors which have a demonstrated track record of success in the space.”, "We’re excited to partner with IGS and Ares to advance the deployment of residential solar across the U.S,” said Marissa Jacobus, renewable energy investments project manager with U.S. Bancorp Community Development Corporation, the tax credit and community investment subsidiary of U.S. Bank. "Established investment parternerships like the one we share with Ares empowers us to bring solar energy to more homeowners so that they can realize significant financial and environmental benefits.". Please visit www.aresmgmt.com for additional information. Bill Mendel, a spokesman for Los Angeles-based Ares, declined to … has been downloaded and enjoyed by millions of people spanning the globe. These projects will simultaneously help companies save on costs, increase resiliency, and meet their sustainability targets, a win-win value proposition that we are excited to support," said Keith Derman, Partner and Co-Head of Ares Infrastructure and Power. The company empowers consumers to make choices that best fit their energy needs. ING Bank’s more than 53,000 employees offer retail and wholesale banking services to customers in over 40 countries.