Treaty Oak Clean Energy LLC has secured $300 million for its expanding renewable energy project pipeline, which includes utility-scale solar, wind, and battery energy storage assets (BESS). The company said in a media release that it secured the funds through a senior secured corporate credit facility.
“This facility strategically positions us to accelerate our buildout of important renewable projects in the U.S. and opportunistically approach a market that is experiencing significant regulatory change”, Chris Elrod, Treaty Oak’s chief executive officer, said. “This financing reflects strong lender confidence in our business model and management team and gives us a competitive advantage”.
Proceeds from the facility will directly fund Treaty Oak’s strategic growth goals, offering vital capital for interconnection and offtake letters of credit, equipment purchases, and overall corporate expenses to progress Treaty Oak’s 17.3-GW solar, wind, and battery storage projects, the company said.
Sky Fabian, partner at PEI Global Partners, added. “We are pleased to work alongside the company to secure a highly accretive credit facility that will enable the company’s commercialization of the next wave of clean energy development projects across the U.S.”
Treaty Oak said its customized offtake strategies and strong relationships with reputable offtakers have enabled its renewable portfolio to secure competitive, long-term power purchase agreements.
Construction began in 2024 on the 100-MW Redfield solar project in Arkansas, and construction will start in 2025 on an additional 385 MW of solar projects in Louisiana, the company said.
According to the company, ING Capital LLC, Nomura Corporate Funding Americas LLC, and Sumitomo Mitsui Banking Corporation acted as Coordinating Lead Arrangers. ING was the Green Loan Agent, and Nomura served as the Administrative Agent for the deal. PEI Global Partners was the Exclusive Financial Advisor to Treaty Oak. Latham & Watkins LLP provided legal counsel for the borrower, while Norton Rose Fulbright US LLP represented the Lenders, Treaty Oak said.
To contact the author, email andreson.n.paul@gmail.com
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