Leeward Renewable Energy Secures $1.25B for US Renewables
- Leeward Renewable Energy secures $1.25 billion to power up US with wind, solar, and battery storage, aiming for a greener future by 2025.
Leeward Renewable Energy secures a USD 1.25 billion construction warehouse facility to add over 890 MW of wind, solar, and battery storage capacity in the US. The funding will support the company's operating portfolio over a three-year period, with plans to complete projects by 2024 and 2025. LRE, a portfolio company of OMERS Infrastructure, will use the credit line to finance six fully contracted renewable energy projects.
Wells Fargo Bank is the administrative agent for the credit facility, with Wells Fargo Securities, LLC, and Canadian Imperial Bank of Commerce as coordinating lead arrangers. LRE currently owns and operates 32 renewable energy assets in the US with a combined capacity of about 3 GW and has a development pipeline exceeding 30 GW.
What is the impact of Leeward Renewable Energy's new funding on US renewable energy?
- Leeward Renewable Energy's new funding of USD 1.25 billion will add over 890 MW of wind, solar, and battery storage capacity in the US.
- The funding will support the company's operating portfolio over a three-year period, with projects expected to be completed by 2024 and 2025.
- LRE, a portfolio company of OMERS Infrastructure, will use the credit line to finance six fully contracted renewable energy projects.
- Wells Fargo Bank is the administrative agent for the credit facility, with Wells Fargo Securities, LLC, and Canadian Imperial Bank of Commerce as coordinating lead arrangers.
- LRE currently owns and operates 32 renewable energy assets in the US with a combined capacity of about 3 GW and has a development pipeline exceeding 30 GW.
