Invenergy Secured Additional $900 Million From Natixis CIB

Invenergy, a developer of renewable energy projects, secured a $900 million Green Letter of Credit facility to support Invenergy Renewables Finance North America. The funding will support Invenergy’s growing project development pipeline of large-scale renewable and other clean energy generation and storage facilities in the Americas. Natixis Corporate & Investment Banking (Natixis CIB) acted as Sole Bookrunner, Syndication Agent, Administrative Agent, Documentation Agent, and Green Loan Coordinator.

This credit facility followed last year’s announcement that the company closed and upsized its Revolving Credit Facility to $1.5 billion. Natixis CIB also served as the sustainability coordinator for that transaction.

Mandated Lead Arrangers were Natixis CIB and Desjardins Group. Banco Bilbao Vizcaya Argentaria, S.A., New York Branch, Bank of Montreal, Chicago Branch, BNP Paribas, CaixaBank, S.A., Cooperative Rabobank U.A., New York Branch, HSBC Bank USA, National Association, JP Morgan Chase Bank, KeyBanc Capital Markets, Mizuho Bank, National Australia Bank Limited, Nomura Corporate Funding Americas, Norddeutsche Landesbank Girozentrale, New York Branch, Royal Bank Of Canada, New York Branch, and Société Générale served as lenders.

The company received a $1.27 billion round of funding recently, which was also led by Natixis Corporate and Investment Banking (Natixis CIB). The funding was earmarked for the development and construction of Invenergy’s renewable energy initiatives in Kansas and Texas. The four projects together represent a total capacity of 677 MW.

“Natixis and the entire lender group have reinforced their commitment to Invenergy, and the increased facility will support our continued growth and accelerate a clean energy future,” said Meghan Schultz, Invenergy’s Executive Vice President and Chief Financial Officer.

According to Mercom’s Q4 and Annual Solar Funding and M&A report, In 2023, announced debt financing came to $20 billion, 67% higher compared to $12 billion in 2022 and the highest amount raised since 2010. Securitization activity was a key contributor, with $3.4 billion in 11 deals.

Earlier this month, Sermsang Palang Ngan Company (SPN), a renewable energy project developer, secured a $64 million green loan facility provided by the International Finance Corporation (IFC). IFC’s funding will help SPN finance the acquisition, development, and construction of renewable projects.