Clearway Energy Group ("Clearway"), which owns one of the largest fleets of non-regulated renewable energy assets in the United States, announced today that it secured corporate credit facilities totaling $821.5 million.
“This financing positions Clearway well to advance our development pipeline of more than 30 gigawatts and to expand upon our strong track record of delivering solar, wind, and battery storage projects,” said Max Gardner, Treasurer and Vice President of Corporate Finance at Clearway. “We thank our financial partners for their continued confidence and support of our business.”
The corporate sustainability-linked credit facilities consist of a $300 million revolving credit facility, a $171.5 million Green term loan, and a $350 million letter of credit facility. Natixis Corporate & Investment Banking (Natixis CIB) acted as coordinating lead arranger and lead sustainability and lead green loan coordinator. Canadian Imperial Bank of Commerce (CIBC Capital Markets) acted as passive sustainability and passive green loan coordinator. Joint lead arrangers were Banco Santander, S.A., New York Branch, BNP Paribas, Canadian Imperial Bank of Commerce, New York Branch, Desjardins Group, Keybank Capital Markets Inc., MUFG Bank, Ltd., National Australia Bank Limited, Sumitomo Mitsui Banking Corporation (SMBC), the Toronto-Dominion Bank, New York Branch, and Truist Securities.
Clearway provides renewable power under long-term offtake contracts to corporate, residential, and wholesale customers including utilities, municipalities, cooperatives, and competitive retail providers. The company’s 30-gigawatt pipeline includes solar, wind, and battery storage across 28 states.
Clearway Energy Group is leading the transition to a world powered by clean energy. Along with our public affiliate Clearway Energy, Inc., we own and manage more than 9.6 gigawatts of renewable and conventional energy assets across the country. As we develop a nationwide pipeline of new renewable energy projects for the future, Clearway’s 7 gigawatts of operating wind, solar, and energy storage assets offset the equivalent of more than 9 million metric tons of carbon emissions for our customers today. Clearway Energy Group is headquartered in San Francisco with offices in Carlsbad, Calif.; Scottsdale, Ariz.; Houston; and Princeton, N.J. For more information, visit clearwayenergygroup.com.