US privately-held clean energy developer Invenergy has secured a USD-1.5-billion (EUR 1.36bn) credit facility led by a unit of French investment bank Natixis SA to support its project development pipeline.
“This financing firmly advances our ability to execute on an industry-leading project portfolio at a time of massive growth for Invenergy,” Invenergy’s CFO Meghan Schultz said in a statement.
The sustainability-linked revolving credit facility secured by Invenergy Renewables Operating I LLC (IROI) upsizes an existing USD-600-million working capital facility with the support of existing lenders and several new lenders joining the syndicate. It is tied to two key performance indicators — an increase in greenhouse gas emissions (GHG) avoided related to Invenergy’s assets, and a health and safety metric.
Apart from Natixis Corporate & Investment Banking, the other lead arrangers include Rabobank, Export Development Canada and Desjardins Group.
The closing of the revolving credit facility comes after Chicago, Illinois-based Invenergy attracted in June an additional investment of USD 1 billion from its existing baker Blackstone.
(USD 1 = EUR 0.913)
