Exus Renewables North America, an independent owner, developer and operator of utility-scale renewable energy projects, closed a $400 million senior secured corporate credit facility. The facility will fund the development and expansion of the company’s growing wind, solar and battery portfolio, which includes over 700 MW of renewable energy assets in operations or under construction and 4.5 GW in active development.
The financing provides Exus more flexibility to build on recent momentum, including major power purchase agreements with companies like Google and Meta. The proceeds will fund development-stage expenditures, including interconnection deposits, commercial offtake, equipment procurement and other project development expenses. This enables Exus to deploy capital efficiently across its utility-scale solar, wind and battery storage pipeline throughout North America.
“This capital gives us the flexibility to develop and operate renewable power projects that meet America’s growing energy needs,” Jim Spencer, president and CEO of Exus Renewables North America, said. “We’re grateful to our banking partners and advisors for their support in completing this transaction. As demand from data centers and manufacturers continues to grow, Exus is well positioned to deliver some of the most efficient and reliable power available to off-take customers through our utility-scale solar, wind and battery storage portfolio — reinforcing both the strength of this market and our next phase of growth.”
The facility was arranged by Santander, Barclays Bank, ING Capital and Nomura Securities International as coordinating lead arrangers, with KeyBanc Capital Markets and BHI, Bank Hapoalim’s U.S. commercial banking arm, as joint lead arrangers. ING Capital and Nomura Securities International served as green loan coordinators. Banco Santander (New York branch) serves as administrative agent, and KeyBank serves as collateral agent.
The company was advised by PEI Global Partners, alongside Latham & Watkins as legal counsel. Lenders were advised by Paul Hastings as legal counsel.
