Nexamp, a developer of solar and battery storage projects, has secured $350 million in financing from Macquarie Asset Management to support the construction of its utility-scale solar and battery storage projects.
The financing from Macquarie will be used to advance a significant portion of the company’s 6 GW project pipeline, which has been under development since Nexamp’s expansion into the utility-scale segment in 2021.
In a separate transaction, the company also secured additional development capital from Nomura to advance its early-stage project development. The investment from Nomura provides flexible capital to support the development of its next tranche of utility-scale projects.
Macquarie’s funding will facilitate the construction of over 1 GWac of solar and storage projects across the MISO, ERCOT, and NYSIO markets of the U.S.. At the same time, Nomura’s capital will support development activities in MISO, NYSIO, and PJM markets.
PEI Global Partners acted as the financial advisor to Nexamp on both transactions.
“We are looking forward to the expansion of our partnership with the Nexamp team as they embark on the next chapter of strategic growth. We believe this relationship will allow the team to realize rapid success in the utility-scale energy transition market,” added Harlan Cherniak, Head of Americas Infrastructure Debt at Macquarie Asset Management. “Through this $US350 million facility, we will continue to solidify our Credit & Insurance division as a global leader in the infrastructure and asset-based credit market.”
Previously, Nexamp closed a $340 million private placement debt refinancing with PGIM Private Capital (PPC), the private credit business of global asset manager PGIM, in April this year. The financing will support solar and storage projects across multiple states over the next three years.
According to Mercom’s 1H and Q2 2025 Solar Funding and M&A report, large-scale project funding increased by 65% in the first half of 2025 compared to the same period in 2024.
In September, Aboitiz Renewables, the renewable energy arm of Aboitiz Power Corporation (AboitizPower), secured a P7.4 billion (~$129 million) project financing through its wholly owned subsidiary, AP Renewable Energy Corporation, with the Bank of Philippine Islands (BPI).
