Strata Clean Energy LLC, a prominent US utility-scale solar and battery storage provider, has successfully secured $300 million (EUR 279.2 million) in debt financing to bolster the development of its extensive 17 GW project pipeline.
The revolving loan and letter of credit facility have been provided by Nomura Securities International Inc, as revealed by Strata Clean Energy. First Citizens Bank and ING Capital played pivotal roles as joint lead arrangers for this transaction, collaborating within a consortium alongside five other lending institutions.
This substantial injection of fresh capital will be strategically allocated to support the development, construction, and operation of Strata's wide-ranging portfolio of renewable energy, energy storage, and power-to-X projects. Additionally, a portion of the funds will cater to the working capital requirements of its engineering, procurement, and construction (EPC) and operations and maintenance (O&M) divisions.
Of the 17 GW capacity within Strata's pipeline, approximately 8.4 GW is attributed to solar projects. These solar initiatives will complement Strata's existing fleet, which encompasses 3 GW of solar assets and 3.2 GW of battery storage assets.
Alice Heathcote, the Chief Financial Officer of Strata Clean Energy, expressed, “This facility strengthens Strata's liquidity position and enables us to drive forward with groundbreaking and economically viable renewable initiatives in markets nationwide.” The financing arrangement positions Strata Clean Energy to pursue and advance innovative renewable projects across the United States.
