Exus Renewables North America, an independent owner, developer and operator of utility-scale renewable energy and energy storage projects, closed $345 million in senior secured holding company financing led by Goldman Sachs Alternatives. The financing will support construction costs and the development of new projects across Exus’ growing U.S. portfolio of wind, solar and battery storage assets.
The financing builds on an active year for Exus, including the closing of a $400 million senior secured corporate credit facility in December and approximately $356 million in project-level construction financing for its Highland North and Cambria wind projects in Pennsylvania in July.
“We have projects moving forward and a deep pipeline behind them, and this financing lets us keep that momentum going,” Jim Spencer, president and CEO of Exus Renewables North America, said. “The support from Goldman Sachs Alternatives reflects confidence in our team and our projects, and gives us the flexibility to keep building and bring new generation online where it’s needed.”
Vikas Agrawal, managing director and co-head of energy transition climate credit at Goldman Sachs Alternatives, added, “Exus has established a strong platform for developing and operating utility-scale renewable energy projects. We’re pleased to support its continued investment in new energy infrastructure as electricity demand grows across the United States.”
PEI Global Partners served as financial advisor to Exus on the transaction. Latham & Watkins served as legal counsel to Exus, while Vinson & Elkins served as legal counsel to Goldman Sachs Alternatives.
