Exus Renewables North America, an independent owner, developer, and operator of utility-scale renewable energy projects, announced the closing of a $400 million senior secured corporate credit facility.
The funding will be used for the development and expansion of the company’s wind, solar, and battery portfolio, comprising more than 700 MW of renewable assets in operation or under construction and 4.5 GW in active development, as electricity demand rises from data centers, manufacturers, and industrial facilities across the U.S.
The funding was arranged by Santander, Barclays Bank, ING Capital, and Nomura Securities International, as coordinating lead arrangers, with KeyBanc Capital Markets and BHI, Bank Hapoalim’s US commercial banking arm, as Joint Lead Arrangers. ING Capital and Nomura Securities International served as Green Loan Coordinators. Banco Santander, New York Branch, serves as Administrative Agent, and KeyBank National Association serves as Collateral Agent.
The company was advised by PEI Global Partners, alongside Latham & Watkins as legal counsel. Lenders were advised by Paul Hastings as legal counsel.
“This capital gives us the flexibility to develop and operate renewable power projects that meet America’s growing energy needs,” said Jim Spencer, President and CEO of Exus Renewables North America. “We’re grateful to our banking partners and advisors for their support in completing this transaction. As demand from data centers and manufacturers continues to grow, Exus is well positioned to deliver some of the most efficient and reliable power available to off-take customers through our utility-scale solar, wind, and battery storage portfolio—reinforcing both the strength of this market and our next phase of growth.”
According to Mercom’s 9M and Q3 2025 Solar Funding and M&A report, large-scale project funding increased by 43% in the first nine months of 2025 compared with the same period in 2024.
In January, Serengeti Energy, a renewable independent power producer, closed $26 million in project financing from a syndicate of lenders for the development of the 32 MWp Ilute solar project located in Western Zambia. The financing is led by the Dutch entrepreneurial development bank, alongside The Sustainable Energy Fund for Africa, managed by the African Development Bank, Triodos Investment Management, and EDFI Management Company, through the EU-funded Electrification Financing Initiative.
