Origis Energy, a renewable energy platform headquartered in Miami, has closed on a $750 million construction warehouse credit facility. The facility will fund large-scale solar and energy storage project construction totaling approximately 2 gigawatts (GW) across 15 states over the next three years.
Construction of solar, storage and co-located solar plus storage projects have expected completion dates up to 2026. Power purchase agreements, serving a variety of utility and corporate clients, have been secured on all assets. Origis is developing a clean energy pipeline that currently stands at 18 GW of solar and 36 GWh of storage capacity. The company is active in 31 states to date.
“Origis is in an unprecedented growth cycle fueled by customer demand and the Inflation Reduction Act,” says Guy Vanderhaegen, CEO & president, Origis Energy. “Advancing construction of our renewable energy pipeline is a top priority, one served by this new financing. The arrangement also demonstrates the continued trust of the financial community in our team.”
Santander Corporate and Investment Banking was the structuring agent, green loan coordinator and coordinating lead arranger. Rabobank and Natixis Corporate & Investment Banking served as coordinating lead arrangers, hedge providers and letter of credit issuers.
Origis Energy is majority-owned by funds that are managed by Antin Infrastructure Partners, a private equity firm.
Latham and Watkins represented Origis Energy in the transaction. Norton Rose Fulbright acted as lenders’ counsel.