US clean energy developer Invenergy has secured $1.27 billion (EUR 1.17 billion) in construction financing led by Natixis Corporate and Investment Banking (Natixis CIB) to support four renewable energy projects in Kansas and Texas, announced Natixis on Friday.
The projects, with a combined capacity of 677 MW, are currently under construction. They include the 200-MW Diversion wind project in Texas, the 135-MW Flat Ridge IV, and the 153-MW Flat Ridge V in Kansas, along with the 189-MW Pixley solar project, also in Kansas.
Upon completion, two subsidiaries of US utility American Electric Power Company Inc (NASDAQ:AEP) will take ownership of the four plants. Southwestern Electric Power Company (SWEPCO) will acquire the Diversion wind farm, expected to begin commercial operation in the fourth quarter of 2024. Public Service Company of Oklahoma (PSO) will acquire the two Flat Ridge wind farms and Pixley, all expected to commence commercial operations in the first quarter of 2025.
“This transaction was made possible by Invenergy's strong financial and project partners who share our vision to build a more sustainable world,” stated Brian Bortman, Senior Vice President of Finance & Capital Markets at Invenergy, according to Natixis' announcement.
Natixis CIB served as joint lead arranger, co-green loan coordinator, and joint bookrunner. The financial services company also acted as the sole documentation agent and administrative agent across the four financings.
