US renewables developer-operator Swift Current Energy said on Thursday that it has upsized its revolving credit facility to USD 312.5 million (EUR 287.7m), up from USD 225 million, to fund its project pipeline.
The increased borrowing capacity is a green loan with a maturity extended to 2026.
The expanded banking consortium now includes National Australia Bank, Natixis and First Citizens Bank, joining existing lenders KeyBank, Mitsubishi UFJ Financial Group (MUFG) and Canadian Imperial Bank of Commerce (CIBC). KeyBanc Capital Markets served as the coordinating lead arranger. National Australia Bank, Natixis, MUFG and CIBC served as joint lead arrangers. CIBC acted as the green structuring agent, Swift Current said.
“This expanded credit facility will support the sustainable growth of our project pipeline and the execution of our advanced development projects,” commented CEO and Co-founder of Swift Current Eric Lammers.
The company says it has more than 10 GW of wind, solar and battery energy storage projects in its development pipeline across “premium markets”. In 2023, Swift Current finalised construction financing for over 1 GW of solar projects, including the 593-MWac Double Black Diamond solar project in Illinois. Additionally, it brought its 197-MWac Castle Gap wind farm into commercial operation.
(USD 1.0 = EUR 0.921)
