A number of lenders have jointly pooled in up to $800 million new revolving corporate credit facility for Intersect Power’s renewables, storage and green hydrogen portfolio in the US; Power Capital Energy and Sulus Solar merger has led to the creation of Hawthorne Renewables in the US that plans to develop 2 GW PV capacity over the next 5 years to 7 years; Goldbeck Solar and Neoen have started construction of a 93 MW solar plant in Canada’s Alberta province; Matrix Renewables has acquired 284 MW DC solar plant in the US from OCI Solar Power.
Credit facility for Intersect Power: Intersect Power, LLC has raised up to $800 million new revolving corporate credit facility to support expansion of its clean energy platform, calling it one of the largest of its kind ever done in the clean energy sector. Proceeds will support the development, construction and operation of the company’s renewables, energy storage and green hydrogen projects. For this financing, Intersect partnered with Coordinating Lead Arrangers and Joint Bookrunners, Deutsche Bank AG, Nomura Securities International, and Santander Corporate & Investment Banking.
New solar developer launched in US: Hawthorne Renewables, a merger between Power Capital Energy Group and Sulus Solar, has announced its launch as a solar development company, with a target to bring online 2 GW PV capacity over the next 5 years to 7 years. It is backed by $5.2 billion Paris based green energy private equity firm Omnes Capital. For the latter, Hawthorne is its maiden US venture through which it will invest $250 million in the US solar market over the next 3 years to 4 years. Hawthorne is led by Sulus Solar leadership Colin Murphy and Conor Grogan as co-founders and co-CEOs.
93 MW PV project in Canada: Germany’s Goldbeck Solar has started construction of its largest project in North America to date, along with France’s Neoen for whom the 93 MW Fox Coulée Solar Project is its 1st solar farm in Canada. The project in Starland County of Alberta province is expected to come online in early 2024.
284 MW DC project changes hands: TPG Rise backed global renewable energy platform Matrix Renewables as acquired 284 MW DC Stillhouse Solar Project in the US from utility scale solar company OCI Solar Power. The Bell County, Texas located project is in the late-stage development phase. It is expected to enter construction in 2024 to come online in 2025. Matrix counts its solar, storage and green hydrogen portfolio of projects in the US as around 6 GW, out of 12.2 GW it touts globally.