September 20, 2023

CohnReznick Capital Advises BlueWave on $91MM Tax Equity and Debt Financing for Agrivoltaic Solar Portfolio

BlueWave, a Boston-based solar developer, owner, and operator, has secured $91 million in financing to support the advance of the first 20MW of its 2GW+ project pipeline. The $91MM financing, comprised of a $64MM debt raise from KeyBank and a $27MM tax equity raise from U.S. Bancorp Impact Finance, will enable the construction and long-term ownership of five agrivolatic (dual-use solar + agricultural) projects in Massachusetts.

CohnReznick Capital is pleased to serve as exclusive financial advisor to BlueWave on this transaction, which provides benefits to the local communities and helps BlueWave achieve its strategic growth initiatives.

“BlueWave’s agrivoltaics are an example of how both developers and financiers must grow and adapt to rapidly changing market and environmental conditions,” said Gary Durden, CohnReznick Capital Partner & Managing Director. “It was our privilege to work on this innovative portfolio and help BlueWave make this a success.”

For further details on this transaction, please contact Gary Durden.

For the full press release, please click here.

About BlueWave

BlueWave’s mission is to protect our planet by transforming access to renewable energy. As a pioneering renewable energy company that develops and owns solar and battery storage projects, BlueWave has a long track record of success and is developing several gigawatts of solar and battery storage projects throughout the United States to ensure our grid is reliable and efficient in a clean energy future.

BlueWave is proud to be a certified B Corp, recognized by B Labs as “Best in the World” in Governance.

To learn more about BlueWave, visit