Origis Energy locks USD 750m in debt to back US project pipeline

US renewables platform Origis Energy has closed a deal to get a USD-750-million (EUR 708.3m) credit facility to back its solar and energy storage development project pipeline in the US.

The company said on Tuesday it has upsized an earlier development finance facility through a new funding round. The latest financing arrangement comes on the heels of a USD-375-million debt facility secured in May last year.

The new facility was led by CIT, a division of First Citizens Bank. Among the other lenders that have increased their earlier funding commitments are Spain’s Banco Santander Deutsche Bank, HSBC, Rabobank, and Nomura. The list of new lenders is rounded off by Truist Securities, Sumitomo Mitsui Banking Corp (SMBC), KeyBank, Natixis and Societe Generale.

“The offering upsizes our 2022 facility by double, and was also oversubscribed,” said Jamie Edwards, Managing Director, Finance & Accounting at Origis Energy.

Origis, which is majority-owned by Antin Infrastructure Partners, has a pipeline that tops 20 GW of utility-scale and distributed generation projects across solar, solar plus storage, and stand-alone storage technologies. Its customer base includes Investor Owned Utilities (IOUs), state and municipal utilities, California Community Choice Aggregators (CCAs), cooperatives and large corporations.

So far, the Miami, Florida-based company has developed 170 projects solar, energy storage and clean hydrogen projects globally totaling more than 5 GW.

(USD 1.0 = EUR 0.944)

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