To support Invenergy Renewables Operating I LLC (IROI) and its parents’ growing project development pipeline, Natixis Corporate & Investment Banking (Natixis CIB) recently closed a $1.5 billion sustainability-linked revolving credit facility. This financing upsizes the existing $600 million working capital facility of IROI with the support of existing lenders and several new lenders joining the syndicate.
Mandated lead arrangers were Natixis CIB; Cooperatieve Rabobank U.A., New York Branch (Rabobank); Export Development Canada; and Desjardins Group.
Acting as sustainability coordinator, Natixis CIB worked with IROI this year to structure sustainability-linked features aligned with the company’s strategy to deliver clean energy. The facility is tied to two key performance indicators: the increase in GHG emissions avoided related to IROI’s assets and a health and safety metric.
“Natixis CIB was proud to partner with the excellent team at Invenergy and an outstanding bank group to deliver this landmark financing,” says Yash Anand, head of energy transition & natural resources, Americas at Natixis CIB. “This transaction is a further testament to Natixis CIB’s continued commitment to supporting best-in-class sustainable energy platforms.”