Invenergy, a leading privately-held developer, owner and operator of sustainable energy solutions, recently closed a $1.5 billion Revolving Credit Facility to support Invenergy Renewables Operating I LLC (IROI) and its parent company’s growing project development pipeline. This financing upsizes the existing $600 million working capital facility with the support of existing lenders and several new lenders joining the syndicate. This year, Natixis Corporate & Investment Banking (Natixis CIB) acting as Sustainability Coordinator, has worked with IROI to structure sustainability-linked features aligned with Invenergy’s strategy to deliver clean energy.
“This financing firmly advances our ability to execute on an industry-leading project portfolio at a time of historic growth for Invenergy,” said Meghan Schultz, executive vice president & chief financial officer at Invenergy. “We thank our lender teams for their excellent service, continued confidence, and shared commitment to building a more sustainable world.”
Notably, this closing follows last month’s announcement that funds managed by Blackstone Infrastructure Partners (“Blackstone”) completed an approximately $1 billion equity investment in Invenergy to support its rapidly expanding business. This investment builds on Blackstone’s nearly $3 billion investment in Invenergy in 2021 and 2022.
Mandated Lead Arrangers were Natixis CIB, Coöperatieve Rabobank U.A., New York Branch (Rabobank), Export Development Canada, and Desjardins Group. Additionally, Natixis, New York Branch acted as Sustainability Coordinator and Administrative Agent. Banco Santander, S.A., New York Branch, Bank of Montreal, Chicago Branch, Canadian Imperial Bank of Commerce, New York Branch, KeyBanc Capital Markets Inc, and National Bank of Canada were named as Joint Lead Arrangers. BNP Paribas, Société Generale, and The Bank of Nova Scotia were named as Senior Managing Agents. The other lenders are HSBC Bank USA, National Association, MUFG Bank, Ltd, National Australia Bank Limited and National Westminster Bank Plc.
Invenergy drives innovation in energy. Invenergy and its affiliated companies develop, own, and operate large-scale renewable and other clean energy generation, transmission 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, Spain, Japan, Poland, and Scotland.
Invenergy and its affiliated companies have successfully developed more than 30,000 megawatts of projects that are in operation, construction or contracted, including wind, solar, transmission infrastructure and natural gas power generation and advanced energy storage projects. Learn about Invenergy at Invenergy.com