First Citizens Bank, through its energy finance business, served as co-lead arranger on a $300 million senior secured credit facility for Swift Current Energy, a North American clean energy platform.
The financing will provide flexible growth capital as Swift Current pursues development of 10 GW gigawatts of wind, solar and energy storage projects in its pipeline, with plans to own and operate 1 GW by the end of year.
“Our utility-scale renewable power projects are continuing to contribute to grid stability and reliability while also delivering clean energy at competitive prices to consumers and businesses alike,” Eric Lammers, CEO and co-founder of Swift Current, said. “We appreciated the expertise of the First Citizens Energy team in helping arrange this important financing for our organization.”
“Swift Current is well known within the industry for its proven track record of successful renewable power project development,” Mike Lorusso, who heads First Citizens’ energy finance business, said. “We appreciated the opportunity to work closely with their team to develop a flexible financing package to help advance their growth agenda.”
