Strata Clear Vitality has closed a $300 million revolving mortgage and letter of credit score facility to increase its operational fleet and speed up the commercialization of its diversified 17+ GW growth pipeline.
Nomura Securities Worldwide Inc. led the financing, performing as Sole Coordinating Lead Arranger, Bookrunner, and Nomura Company Funding Americas LLC as Administrative Agent, with First Residents Financial institution and ING Capital as Joint Lead Arrangers alongside 5 different participant banks.
Notably, the mortgage adheres to a Inexperienced Financing Framework in accordance with the 2023 Mortgage Syndications and Buying and selling Affiliation (LSTA) Inexperienced Mortgage Rules. Nomura and ING Capital acted as Inexperienced Structuring Brokers.
The proceeds of the mortgage will help the event, building and operation of Strata’s upcoming renewable vitality, vitality storage and power-to-X tasks. This facility additionally gives working capital for Strata’s rising EPC and O&M divisions, each of which have performed a pivotal function within the firm’s 15-year historical past of execution for its personal impartial energy producer and third-party prospects.
“This facility strengthens Strata’s liquidity place and permits us to drive ahead with groundbreaking and economically viable renewable initiatives in markets nationwide,” says Alice Heathcote, CFO of Strata Clear Vitality. “The help of our monetary companions is instrumental in propelling us ahead as a number one absolutely built-in cleantech platform, providing a complete one-stop answer for growth via building, with an unwavering dedication to high quality.”
Nixon Peabody and Norton Rose Fulbright acted as borrower’s and lenders’ counsel, respectively.
