Birch Creek Energy has closed on a $150 million credit facility within KKR’s High-Grade Asset-Based Finance strategy via insurance accounts managed by KKR.
The financing extends and upsizes Birch Creek’s previous $100 million facility, and it will be used to finance development expenses and equipment for solar farms in the company’s development portfolio.
The company says that it presently owns 160 MW of operating projects in its independent power producer, with an additional 187 MW under construction set to place in service over by the end of 2024.
“We are thrilled to have strengthened our relationship with KKR through the renewal and upsize of our credit facility,” says Dan Siegel, CEO of Birch Creek.
“Through this facility, we are able to continue the development of solar projects in certain core markets, while also funding select equipment purchases for projects closer to construction. We are proud to work with KKR and appreciate their confidence in our platform as we continue to grow our unique, speed-to-market strategy.”
