Press Release
Invenergy, the largest privately held developer, owner, and operator of clean energy solutions, recently closed on a $1.1bn debt financing facility for three solar projects in Ohio, Indiana, and Tennessee.
The debt financing includes a Construction/Bridge Loan Facility and a Letter of Credit Facility.
This financing applies to three of Invenergy’s utility-scale solar projects in construction – Cadence Solar Energy Center (240 MW, OH), Trade Post Solar Energy Center (200 MW, IN) and Yum Yum Solar Energy Center (150 MW, TN).
Together, these projects will generate 590 megawatts of power once operational in 2026 and bring significant economic benefits to their local communities, including construction jobs and more than $390m in taxes and landowner payments throughout the projects’ lifespans.
“As Invenergy continues to develop world-class energy solutions that address growing electricity demands across the country, it is important to partner with premier financial institutions that share our commitment to strengthening the grid with cleaner energy,” said Brian Bortman, Invenergy’s Senior Vice President, Finance & Capital Markets.
“This is a significant transaction, and we thank our lending partners for their continued confidence in Invenergy and our ability to build top-of-the-line energy centres.”
Natixis Corporate & Investment Banking (Natixis CIB), Canadian Imperial Bank of Commerce (CIBC), Nomura, Rabobank, and Wells Fargo acted as Coordinating Lead Arrangers.
Green Loan Coordinators, Bookrunners, and Approved Hedge Providers for the financing.
Natixis CIB also acted as Documentation Agent, with CIBC as the Administrative Agent and Rabobank as Diligence Coordinator. CIBC, Rabobank, and Wells Fargo are Issuing Banks.
