Origis Energy has closed an upsizing amendment to its development finance facility that doubles the company’s capacity to $750 million.
With enhanced flexibility and increased capacity, the credit facility will support further expansion of Origis Energy’s utility-scale solar and energy storage project pipeline.
This financing round follows a $375 million facility announced in May 2022.
CIT, a division of First Citizens Bank, was the lead arranger. Lenders supporting the amendment and increasing their commitments included Santander, Deutsche Bank, HSBC, Rabobank and Nomura. New entrants joining the syndicate include Truist Securities, Sumitomo Mitsui Banking Corp. (SMBC), KeyBank, Natixis and Société Générale.
“The recent passing of the Inflation Reduction Act invoking incentive stability, market demand for high-quality clean energy generation and the strong Origis track record drove high interest in this financing round,” says Origis Energy’s Jamie Edwards. “The offering upsizes our 2022 facility by double, and was also oversubscribed.”
Origis Energy is majority-owned by funds managed by Antin Infrastructure Partners.
Latham and Watkins represented Origis Energy in the transaction. Norton Rose Fulbright acted as lender counsel.