funding and M&A

Scout Clean Energy, a Colorado-based renewable energy developer, owner, and operator, announced the closing of a $100 million equipment supply loan (ESL) with Rabobank. The facility will be used to fund Scout equipment down payments.

Headquartered in Boulder, Colorado, Scout Clean Energy reports a portfolio of approximately 1,000 MW of operating and under-construction wind assets and a pipeline of over 19,000 MW of wind, solar, and storage projects across 22 states, including more than 2,200 MW of advanced-stage projects.

The company intends to upsize the facility to $200 million and bring in additional banks later in the year to secure equipment supply for Scout’s near-term advanced-stage pipeline of wind, solar, and storage projects.

“Rabobank is pleased to finance Scout’s renewable energy equipment supply,” said Claus Hertel, managing director of project finance at Rabobank Wholesale Banking North America. “This facility will accelerate its robust growth momentum and secure valuable equipment for its pipeline in wind, solar and storage. It is a testament to the strong relationship we have built with Scout since its inception and our steadfast commitment to banking the energy transition.”

According to Mercom’s Q1 2024 Solar Funding and M&A report, announced debt financing for the solar sector in Q1 2024 totaled $6.2 billion in 22 deals, a 59% increase YoY compared to Q1 2023 when $3.9 billion was raised in 17 deals. QoQ debt financing increased 55%, with $4 billion raised in 15 deals in Q4 2023.

Recently, Agilitas Energy, a developer, builder, owner, and operator of distributed energy storage and solar projects, announced the closing of $100 million in debt financing to fund its growth and continued national expansion. Nomura Securities International acted as the sole bookrunner and lead arranger. The company will use the funds to construct its existing project pipeline.