Smart Home Company myenergi Gets $36 Million

Greenbacker, an investment manager, and independent power producer, announced that it has closed on a new warehouse financing facility with an initial aggregate principal amount of $75 million, with the potential to increase up to $250 million. Greenbacker will use the proceeds of the facility to support the construction and operation of its solar, solar-plus-storage, and standalone energy storage portfolios across the country.

Wells Fargo served as the sole lead arranger, book runner, sustainability structuring agent, and administrative agent for the facility. Wilmington Trust, National Association served as the collateral agent.

The three-year revolving credit facility gives Greenbacker more room and flexibility to invest in sustainability projects. The facility allows Greenbacker to borrow up to $75 million for eligible projects, which can be increased up to $250 million, and also has a $50 million limit for issuing letters of credit.

Greenbacker’s fleet of clean energy projects comprises nearly 3.4 GWs of generating and storage capacity and support over 6,000 green jobs.

According to Mercom’s 1H and Q2 2023 Solar Funding and M&A Report, announced large-scale project funding in Q2 2023 came to $9.5 billion in 51 deals, a 79% increase QoQ compared to $5.3 billion raised in 62 deals in Q1 2023.

ID Energy Group, a vertically integrated Spain-based renewable energy company, recently secured a development debt facility to support its pipeline of late-stage solar PV and onshore wind projects in Europe. The facility was entirely subscribed by a newly established European debt fund, further solidifying its position as a strategic partner of the group. The project pipeline comprises 67 individual projects, varying in size from 1 MW to 150 MW.