U.S. renewable energy developer Invenergy has successfully secured a debt financing facility exceeding $1 billion to support three of its utility-scale solar projects under construction in Ohio, Indiana, and Tennessee. The $1.1 billion package includes both a Construction/Bridge Loan Facility and a Letter of Credit Facility. These funds will help finance the Cadence Solar Energy Center in Ohio (240MW), Trade Post Solar Energy Center in Indiana (200MW), and Yum Yum Solar Energy Center in Tennessee (150MW).
Once completed in 2026, the three solar energy centers will collectively generate 590MW of power, contributing to the growing demand for clean energy while providing significant economic benefits. The projects are expected to create construction jobs and deliver more than $390 million in taxes and landowner payments over the life of the projects.
“As Invenergy continues to develop world-class energy solutions that address growing electricity demands across the country, it is important to partner with premier financial institutions that share our commitment to strengthening the grid with cleaner energy,” said Brian Bortman, Invenergy's Senior Vice President of Finance and Capital Markets.
The financing was led by major financial institutions, including Natixis, Canadian Imperial Bank of Commerce (CIBC), Nomura, Rabobank, and Wells Fargo, who acted as Coordinating Lead Arrangers, Green Loan Coordinators, Bookrunners, and Approved Hedge Providers. Invenergy expressed gratitude for the continued trust of its lending partners.
