Strata Clean Energy has closed a $300 million revolving loan and letter of credit facility to expand its operational fleet and accelerate the commercialization of its diversified 17+ GW development pipeline.
Nomura Securities International Inc. led the financing, acting as Sole Coordinating Lead Arranger, Bookrunner, and Nomura Corporate Funding Americas LLC as Administrative Agent, with First Citizens Bank and ING Capital as Joint Lead Arrangers alongside five other participant banks.
Notably, the loan adheres to a Green Financing Framework in accordance with the 2023 Loan Syndications and Trading Association (LSTA) Green Loan Principles. Nomura and ING Capital acted as Green Structuring Agents.
The proceeds of the loan will support the development, construction and operation of Strata’s upcoming renewable energy, energy storage and power-to-X projects. This facility also provides working capital for Strata’s growing EPC and O&M divisions, both of which have played a pivotal role in the company’s 15-year history of execution for its own independent power producer and third-party customers.
“This facility strengthens Strata’s liquidity position and enables us to drive forward with groundbreaking and economically viable renewable initiatives in markets nationwide,” says Alice Heathcote, CFO of Strata Clean Energy. “The support of our financial partners is instrumental in propelling us forward as a leading fully integrated cleantech platform, offering a comprehensive one-stop solution for development through construction, with an unwavering commitment to quality.”
Nixon Peabody and Norton Rose Fulbright acted as borrower’s and lenders’ counsel, respectively.
The post Strata Clean Energy Nets $300 Million in Funding to Support Growth appeared first on Solar Industry.
Strata Clean Energy Nets $300 Million in Funding to Support Growth
We have hundreds of convicted criminals on the streets due to Trump’s pardons. We have a quagmire in Iran due to Trump’s pointless and illegal war. The United States is viewed internationally with a blend of pity, contempt, and ridicule.
These were some dark days in U.S. history, but they seem bright and shiny in comparison to today.
Nixon didn’t storm the Capitol in an attempt to overthrow the government, nor did he hand out pardons for cash.
Renewable Energy
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Apparently, certain bodies within the United States are still trying to maintain justice here in America.
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