Birch Creek Energy, a utility scale solar and storage developer and independent power producer, has closed on a $150 million credit facility within KKR’s, a global investment firm, high-grade asset-based finance (ABF) strategy via insurance accounts managed by KKR. The financing extends and upsizes Birch Creek’s previous $100 million facility, and it will be used to finance development expenses and equipment for solar farms in the company’s development portfolio.
“We are thrilled to have strengthened our relationship with KKR through the renewal and upsize of our credit facility,” Dan Siegel, CEO of Birch Creek, said. “Through this facility, we are able to continue the development of solar projects in certain core markets, while also funding select equipment purchases for projects closer to construction. We are proud to work with KKR and appreciate their confidence in our platform as we continue to grow our unique, speed-to-market strategy.”
“Amid increasing global demand for clean energy and storage solutions, we are pleased to provide this enhanced credit facility to Birch Creek within our high-grade ABF strategy to further the development of its solar and storage project pipeline,” Erich Heintzen, director at KKR, said.
