Clearway Energy Group, Natixis Corporate and Investment Banking and a group of 13 other lenders closed a $918.9 million transaction. The financing upsizes and extends the tenor of the existing $818.9 million credit facilities with the support of existing lenders alongside five new lenders joining the syndicate. The credit facilities will support the expanding development and continuing growth of Clearway’s renewable energy generation and battery storage project development pipeline. Natixis CIB acted as coordinating lead arranger, bookrunner, syndication agent, documentation agent, green loan coordinator, issuing bank and administrative agent. Kirkland and Ellis acted as counsel to Clearway Energy Group and Steptoe acted as counsel to the lenders.
“We are excited to upsize and extend this financing, which is a key enabler of our project development activities across wind, solar and battery storage,” Max Gardner, treasurer and senior vice president of corporate finance at Clearway Energy Group. “The support from Natixis and our lending partners is instrumental in driving our growth strategy, allowing us to expand our footprint across the U.S. This capital helps position us to seize the opportunities ahead as we work towards delivering reliable, affordable, clean energy solutions for the future.”
The corporate credit facilities consist of a $400 million revolving credit facility, a $350 million letter of credit facility and a $168.9 million term loan.
“We are proud to support Clearway Energy Group in closing this landmark transaction, which strengthens their robust project pipeline and accelerates the energy transition,” Arnaud Stevens, managing director, head of global trade, Americas at Natixis CIB, said. “This deal underscores the critical role of innovative financing in scaling renewable energy infrastructure and driving sustainable growth. The exceptional collaboration with our 13 esteemed banking partners, whose expertise and commitment were instrumental, further ensured the success of this milestone.”
