BrightNight has announced the successful closing of a US$375m corporate credit facility to develop its US project portfolio, which includes solar and energy storage.
This funding specifically will support equipment deposits, letters of credit, and project buildout.
The credit facility is structured as a green loan in alignment with green loan principles.
BrightNight chief executive Martin Hermann said: “We are extremely pleased to announce the successful raise of this $375m credit facility, a first for BrightNight.
“This funding is more than just capital; it represents an important step in BrightNight’s growth.
“It enables us to accelerate our projects, procure equipment at attractive terms, and deliver clean renewable power for our customers.”
ING, Natixis CIB, and SMBC are the coordinating lead arrangers and green loan coordinators on the transaction.
HSBC is a joint lead arranger and administrative agent.
Latham and Watkins and PEI represented BrightNight in the transaction. Norton Rose Fulbright served as the lender counsel.