Vesper Energy, a renewable energy developer, finalized construction and term loan syndication for its Hornet Solar project, representing approximately $592 million in investments. The syndication process was initiated after the Hornet Solar project’s financial close in December 2023._x000D_
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“This closing is a testament to the value of our Hornet Solar project and showcases our ability to leverage innovative financial structures to provide the greatest, mutually beneficial value for our partners,” Robert Scheuermann, chief financial officer of Vesper Energy, said. , said “We look forward to working with leading investors and lenders as we develop, construct and operate clean energy projects across the United States.”_x000D_
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Hornet Solar has secured commitments from a top-tier group of banking and lending partners, including MUFG Bank, Nord/LB and Santander as coordinating lead arrangers; Societe Generale, BayernLB and KB Kookmin Bank as joint lead arrangers; and Allied Irish Bank, Associated, Radiance Structured Finance and DZ Bank as lenders._x000D_
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“MUFG is very pleased to partner with Vesper Energy, Nord LB, Santander and a strong group of JLAs and lenders on this important renewable energy project financing,” Matt Curtin, managing director at MUFG, said. “Hornet Solar required a large capital raise in a crowded market, and its successful execution speaks to the project’s attractive credit profile and prudent financing structure.”
Forward for Specialty Finance
