Palladium lands $66M debt facility from Voya to build out solar pipeline

What's the deal? Palladium Energy has closed US$42.7M development loan facility from Voya Investment ManagementDealroom has a profile for this one. Try Dealroom →, the Jacksonville-based developer said on July 7, 2026. Voya provided the financing through its renewable energy and sustainable infrastructure debt platform.

What's the endgame? The money supports advanced-stage projects with long-term offtake contracts totaling more than 300MW in South Carolina. That portfolio is part of a wider pipeline of power and digital infrastructure projects Palladium is developing across multiple states.

Why now? Founded in 2019, Palladium builds, acquires, and finances utility-scale power and digital infrastructure. The loan marks a step-up in scale for the developer, backed by a lender managing roughly $353 billion in assets as of March 31, 2026.

What's the endgame for Voya? "We are pleased to support Palladium Energy in advancing a high-quality portfolio of utility-scale solar projects," said Edward Levin, managing director and co-head of direct infrastructure at Voya Investment Management. He framed the deal as part of Voya's commitment to financing renewable projects and partnering with experienced developers.

Chief executive officer and co-founder Danny Weidlich called the financing "a significant milestone" and "a strong endorsement of the platform we have built."

King & SpaldingDealroom has a profile for this one. Try Dealroom → advised Voya; Barnes & ThornburgDealroom has a profile for this one. Try Dealroom → advised Palladium. U.S. Bank served as administrative agent for the facility.

The signal: Debt is increasingly the fuel for scaling solar development, with institutional lenders like Voya backing developers that have executed offtake contracts in hand. For Palladium, the facility signals rising confidence in its ability to move projects from origination to construction.

Read more: PR Newswire

Image credit: Palladium Energy