Origis Energy, a renewable energy platform, closed $900 million corporate facility, comprising $650 million of funded credit facilities and a $250 million letter of credit facility. The facility provides Origis with liquidity to accelerate its near-term project pipeline and support its growth strategy of bringing cost-effective, reliable and customer-centered energy projects online.
First Citizens Bank, ING Capital, Natixis and Santander served as joint bookrunners and coordinating lead arrangers. EIG structured and acted as sole purchaser of notes issued as part of the transaction. First Citizens Bank is serving as administrative agent and HSBC as collateral agent and coordinating lead arranger. Bank Hapoalim, Bank Leumi and MUFG are serving as coordinating lead arrangers, Regions Capital Markets as joint lead arranger and Celtic Bank and TD Bank as participating lenders in the facility. Latham & Watkins and Milbank served as borrower’s and lenders’ counsels, respectively.
Proceeds from the facility will be deployed to progress the development of more than 5 GW of highly advanced projects across Origis’ portfolio, in addition to supporting the continued development of its total 20 GW+ pipeline. The sector continues to experience unprecedented electricity demand growth from AI innovation, manufacturing and electrification, and Origis remains exceptionally well-positioned to deliver cost-effective solar and battery storage solutions to its utility and commercial customers.
