CIT Arranges $26 Million for Massachusetts Solar Farms

CIT Group Inc., the financial services company led by John Thain, arranged a $26 million credit facility for Citizens Energy Corp. to build five solar farms in Massachusetts.

The ground-mounted projects will be in Devens, Holyoke, Whately and Agawam, according to a statement today from New York-based CIT. Citizens Energy, a non-profit that provides low-cost energy to the poor and elderly, was founded in 1979 by Joseph Kennedy II, a former congressman and the son of Robert F. Kennedy.

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