New facility will fund approximately 2 gigawatts of large scale solar and energy storage in the U.S.
MIAMI, Fla., (August 16,2023) — Origis Energy, one of America’s leading renewable energy platforms, announced today the close of a $750 million construction warehouse facility. The facility will fund large scale solar and energy storage project construction totaling approximately 2 gigawatts (GW) across 15 states over the next three years.
Today’s announcement follows the March 2023 close of an upsizing amendment to the company’s $750 million development finance facility.
The new warehouse facility will fund the construction of solar, storage and colocated solar plus storage projects, with expected completion dates up to 2026. Power Purchase Agreements, serving a variety of utility and corporate clients, have been secured on all assets. Origis is in development on an industry leading clean energy pipeline which currently stands at 18 GW of solar and 36 GWh of storage capacity. The company is active in 31 states to date.
“Origis is in an unprecedented growth cycle fueled by customer demand and the Inflation Reduction Act,” said Guy Vanderhaegen, Chief Executive Officer & President, Origis Energy. “Advancing construction of our renewable energy pipeline is a top priority, one served by this new financing. The arrangement also demonstrates the continued trust of the financial community in our team. We thank Santander, Rabobank, and Natixis for their collaboration. Together we are delivering clean, cost-effective energy to our customers.”
Santander Corporate and Investment Banking was the structuring agent, green loan coordinator and coordinating lead arranger. They were joined by Rabobank and Natixis Corporate & Investment Banking, who served as coordinating lead arrangers, hedge providers, and letter of credit issuers.
“Santander is very pleased to be supporting Origis with this strategic financing that will provide an efficient and innovative means of financing their project pipeline and help unlock the Company’s future growth. This transaction is an example of Santander’s ongoing commitment to the financing of green projects,” said Andrew Platt, Head of Structured Finance US, Santander Corporate and Investment Banking.
Rabobank is a premier corporate and investment bank to the food and agribusiness industries and an energy transition leader through the renewable energy sector. Natixis CIB is a leading global financial institution that provides advisory, investment banking, financing, corporate banking and capital markets services to corporations, financial institutions, financial sponsors and sovereign and supranational organizations worldwide.
Origis Energy is majority owned by funds managed by Antin Infrastructure Partners.
Latham and Watkins represented Origis Energy in the transaction. Norton Rose Fulbright acted as lenders’ counsel.
About Origis Energy
Origis Energy is bringing clean and cost-effective solar, energy storage and clean hydrogen solutions within reach for utility, commercial and industrial as well as public sector clients. The Origis team has worked to ensure the interests of all stakeholders are upheld in 170 projects worldwide totaling more than 5 GW to date of developed solar, energy storage and clean hydrogen capacity. Headquartered in Miami, FL, Origis Energy delivers excellence in solar, energy storage and clean hydrogen development, financing, engineering, procurement, and construction (EPC) and operations, maintenance and asset management for investors and clean energy consumers in the U.S. Visit the renewable energy platform, Origis Energy.
About Antin Infrastructure Partners
Antin Infrastructure Partners is a leading private equity firm focused on infrastructure. With over €30 bn in assets under management across its Flagship, Mid Cap and NextGen investment strategies, Antin targets investments in the energy and environment, digital, transport and social infrastructure sectors. With a presence in Paris, London, New York, Singapore and Luxembourg, Antin employs over 200 professionals dedicated to growing, improving and transforming infrastructure businesses while delivering long-term value to portfolio companies and investors. Majority owned by its partners, Antin is listed on compartment A of the regulated market of Euronext Paris (Ticker: ANTIN – ISIN: FR0014005AL0)
Rabobank Group is a global financial services leader providing wholesale and retail banking, leasing, and real estate services in more than 38 countries worldwide. Founded over a century ago, Rabobank today is one of the world’s largest banks with over $660 billion in assets.
In the Americas, Rabobank Wholesale Banking North America is a premier corporate and investment bank to the food, agribusiness, commodities and energy industries. Rabo AgriFinance, a subsidiary of Rabobank, is a leading financial services provider for farmers, ranchers and agribusinesses in the United States. Together, we provide sector expertise, strategic counsel and tailored financial solutions to clients across the entire value chain. Visit www.RabobankWholesaleBankingNA.com and www.RaboAg.com.