Longroad Vitality, a U.S.-based renewable power developer, proprietor and operator, has closed $600 million in debt financing to proceed rising its wind, photo voltaic and battery portfolio.
The financing consists of a $275 million time period mortgage, a $175 million revolving credit score facility and a $150 million letter of credit score facility. The brand new financing follows final 12 months’s $500 million fairness funding by Infratil, New Zealand Superfund and MEAG, which marked Longroad’s shift towards primarily challenge possession somewhat than challenge gross sales.
“This extra capital will gasoline the enlargement of our owned operational fleet to greater than 9 GW by 2027, and help our sturdy 30 GW pipeline of growth initiatives,” says Paul Gaynor, CEO of Longroad. “We recognize the continued confidence of our traders and banking companions in Longroad’s platform and execution. We’re excited to welcome and grateful for the establishments who’ve come into this new financing.”
The syndicated company credit score facility was led by Apterra infrastructure capital, a platform firm of Apollo and joint lead arrangers Barclays and HSBC.
