NEW YORK, Sept. 8, 2020 /PRNewswire/ -- CIT Group
Inc. (NYSE: CIT) today announced that its Power and
Energy business was named Renewable Energy Lead Arranger of
the Year by Power Finance & Risk, a top publication covering
the energy project finance industry.
CIT's Power and Energy business was selected by the Power
Finance & Risk editorial team based on its independent research
and industry insights. The award is granted for excellence and
innovation while serving as lead arranger in financing renewable
energy projects for a variety of clients, the magazine said.
"We are honored to receive this Renewable Energy Lead Arranger
of the Year Award in recognition of CIT's expertise and agility in
supporting clients in leading financings for clean energy projects
across the U.S.," said David
Harnisch, president of CIT's Commercial
Finance division, which includes the Power and Energy
group.
"In recent years, our Power and Energy team has done
exceptional work in leading financings for some of the biggest and
most innovative renewable power projects in the nation," said
Mike Lorusso, who leads Power and
Energy as managing director and group head. "We're proud to receive
this recognition from Power Finance & Risk, itself a recognized
leader in the field.
"We look forward to continuing to serve our clients with the
financing they need to develop renewable power generation, support
economic development and create a cleaner, more sustainable
environment for everyone," Lorusso added.
CIT consistently ranks among the top banks in leading financing
for U.S. power and renewables projects, according to league tables
compiled by Inframation, an Acuris company.
Earlier this year, CIT received a Stevie American Business
award for achievement in banking management in recognition of
its continuing success in financing renewable power projects and
utility-scale battery storage projects across the U.S.
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.
About CIT
CIT is a leading national bank focused on
empowering businesses and personal savers with the financial
agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a
financial holding company with over a century of experience and
operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC,
Equal Housing Lender). The company's commercial banking segment
includes commercial financing, community association banking,
middle market banking, equipment and vendor financing, factoring,
railcar financing, treasury and payments services, and capital
markets and asset management. CIT's consumer banking segment
includes a national direct bank and regional branch network.
Discover more at cit.com/about.
MEDIA RELATIONS:
John M. Moran
212-461-5507
john.moran@cit.com
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SOURCE CIT Group Inc.