TOKYO, JAPAN (October 27, 2021) – Sumitomo Mitsui Trust Bank, Limited (President: Kazuya Oyama; hereinafter “SuMi TRUST”) is pleased to announce the successful arrangement of a Green Revolving Credit Facility (the “Green Facility”) in the amount of US$ 150 million for Invenergy Renewables Group, (“Invenergy”), a leading global developer and operator of renewable energy. This is Invenergy’s inaugural Green Facility which will be utilized to support their investments in the development of renewable energy projects in Japan. The Green Facility was arranged by SuMi TRUST and oversubscribed, with participation from Overseas Chinese Bank Corporation Limited, Los Angeles Agency, Apple Bank for Savings, and Fuyo General Lease (USA) Inc.
Green facilities are facilities that aim to support and facilitate environmentally sustainable economic activity. Eligible investments under the Green Facility include Green Projects consistent with the Green Loan Principles (“GLP”) as defined by the Loan Market Association (“LMA”), the Loan Syndications and Trading Association (“LSTA”), and the Asia Pacific Loan Market Association (“APLMA”) such as renewable energy projects (solar, wind, and battery storage).
The initial investments by Invenergy financed under the Green Facility are for the early development capital spend for three onshore wind power projects in Japan: Ibaraki-Hanawa Wind, Inaniwa Wind, and Rusutsu Wind. The Japan Credit Rating Agency, Ltd (“JCR”) provided a “Green 1” rating to all of these investments, the highest ratings possible.
“As the clean energy transition continues in Japan, Invenergy is proud to support Japan in accelerating this transition and achieving its ambitious renewable energy goals. We appreciate SuMi TRUST’s partnership on the Green Facility, a significant transaction that will help ensure the successful development of Invenergy’s wind projects and other future renewable energy projects in Japan.” said Brian Bortman, Senior Vice President, Finance & Capital Markets at Invenergy.
“It gives us great pleasure to have worked with Invenergy on their inaugural Green Facility. Invenergy is one of the global leaders in renewable energy development, driving the transition to clean energy production. Invenergy’s investments in wind power development in Japan are crucial for the country to reach its renewable energy targets. Supporting these types of efforts are a core principle for SuMi TRUST and we look forward to continuing to support Invenergy on their initiatives.” said Ritch Vilas Boas, Head of Trade & Commodity / Asset Finance, Americas Division at SuMi TRUST.
Overview of Green Projects
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| Ibaraki and Fukushima Prefectures | | |
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About Invenergy
We are innovators building a sustainable world. Invenergy and its affiliated companies develop, own, and operate large-scale sustainable energy generation and storage facilities in the Americas, Europe and Asia. Invenergy's home office is located in Chicago, and it has regional development offices in the United States, Canada, Mexico, Colombia, Japan, Poland and Scotland. Invenergy has successfully developed more than 29,000 megawatts of projects that are in operation, construction or contracted, including wind, solar, transmission and natural gas power generation facilities as well as advanced energy storage projects. As a leading partner to commercial and industrial renewable energy customers, Invenergy has contracted more than 3,500 megawatts of wind and solar capacity to help more than 20 different corporate users across six U.S. markets and in Mexico to reach their sustainability and clean energy goals. For more information, please visit www.invenergy.com. ###
Contact Invenergy:
Sophie Lee, Senior Analyst, Communications