Origis Energy obtains USD-375m credit facility for solar pipeline
A 200-MW solar project by Origis Energy in Twiggs County, GA. Source: Origis Energy (www.origisenergy.com).
US renewables platform Origis Energy has closed a USD-375-million (EUR 348m) credit facility for its solar and energy storage development project pipeline.
The facility was co-led by CIT, Deutsche Bank, HSBC, Nomura, Rabobank and Santander, all acting as coordinating lead arrangers. It consists of a letter of credit and equipment financing and was oversubscribed.
The Miami, Florida-based developer, 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.
Latham and Watkins represented Origis Energy in the transaction, while Norton Rose Fulbright served as lender counsel.