CIT Group Inc. announced that its Power and Energy business led a $69 million financing for a portfolio of solar facilities owned and operated by Strata Solar LLC, a leading integrated solar and storage energy service provider based in North Carolina. The 23 operating solar assets in the portfolio, a majority of which are located in North Carolina, have a combined capacity of more than 130 megawatts. Output from the solar assets is covered by purchase agreements that ensure a steady demand for the renewable power they generate. CIT consistently ranks among the nation's top lenders for renewable energy projects, as reported by market research firm Inframation, an Acruis company. CIT also was recognized as Renewable Energy Lead Arranger of the Year in 2020 by Power Finance & Risk, a top energy industry trade publication. Power and Energy, part of CIT's Commercial Finance division, leverages its deep industry knowledge and expertise to offer comprehensive financing solutions for renewable and conventional power generation. The unit manages a large, diverse portfolio that includes investments in all asset classes across the energy sector.