Treaty Oak Clear Power LLC has secured $300 million for its increasing renewable power venture pipeline, which incorporates utility-scale photo voltaic, wind, and battery power storage property (BESS). The corporate stated in a media launch that it secured the funds by means of a senior secured company credit score facility.
“This facility strategically positions us to speed up our buildout of necessary renewable tasks within the U.S. and opportunistically method a market that’s experiencing vital regulatory change”, Chris Elrod, Treaty Oak’s chief government officer, stated. “This financing displays robust lender confidence in our enterprise mannequin and administration staff and provides us a aggressive benefit”.
Proceeds from the power will straight fund Treaty Oak’s strategic development objectives, providing important capital for interconnection and offtake letters of credit score, gear purchases, and general company bills to progress Treaty Oak’s 17.3-GW photo voltaic, wind, and battery storage tasks, the corporate stated.
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Sky Fabian, associate at PEI World Companions, added. “We’re happy to work alongside the corporate to safe a extremely accretive credit score facility that may allow the corporate’s commercialization of the subsequent wave of fresh power improvement tasks throughout the U.S.”
Treaty Oak stated its personalized offtake methods and powerful relationships with respected offtakers have enabled its renewable portfolio to safe aggressive, long-term energy buy agreements.
Building started in 2024 on the 100-MW Redfield photo voltaic venture in Arkansas, and building will begin in 2025 on a further 385 MW of photo voltaic tasks in Louisiana, the corporate stated.
Based on the corporate, ING Capital LLC, Nomura Company Funding Americas LLC, and Sumitomo Mitsui Banking Company acted as Coordinating Lead Arrangers. ING was the Inexperienced Mortgage Agent, and Nomura served because the Administrative Agent for the deal. PEI World Companions was the Unique Monetary Advisor to Treaty Oak. Latham & Watkins LLP supplied authorized counsel for the borrower, whereas Norton Rose Fulbright US LLP represented the Lenders, Treaty Oak stated.
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