...Origis Energy secures $375 million credit facility, led by CIT | Solar Builder
 

Origis Energy secures $375 million credit facility, led by CIT

origis energy

Origis Energy closed a $375 million credit facility for its solar and energy storage development project pipeline this week. This facility for the renewable energy industry bundles Letter of Credit and equipment financing to fund Origis’ clean energy assets.

OMCO Solar

Tracker Month sponsor

Power Your Next Project with the OMCO Origin Bifacial Tracker

Bifacial modules capture more power, resulting in increased solar energy yield. OMCOSolar’s Origin Bifacial Tracker is optimized for bifacial modules for up to 20% more back side production. Learn more here

CIT, a division of First Citizens Bank, along with Deutsche Bank, HSBC, Nomura, Rabobank, and Santander were coordinating lead arrangers of the facilities.

“With their support, we are positioned to accelerate the growth of our development pipeline and secure the critical equipment necessary to meet our customers’ renewable energy needs,” said Jamie Edwards, Managing Director, Finance & Accounting, Origis Energy.

Also of note: the facility was oversubscribed. Origis has one of the largest solar and energy storage development platforms in the U.S, currently a pipeline of around 20 GW. Customers include some of the nation’s largest Investor Owned Utilities (IOUs), state and municipal utilities, California Community Choice Aggregators (CCAs), cooperatives, and large corporate energy buyers.

“As one of the most active renewable energy developers in the country, Origis was uniquely suited for a financing of this type,” said Mike Lorusso, Managing Director and Group Head for CIT’s Power and Energy unit. “We very much enjoyed working closely with them to structure this innovative financing and look forward to opportunities to support their future endeavors.”

Antin Infrastructure Partners, one of the world’s leading infrastructure investment firms, acquired a majority stake in Origis Energy in late 2021. Latham and Watkins represented Origis Energy in the transaction. Norton Rose Fulbright acted as lender counsel.

Have you checked out our YouTube page?

We have a ton video interviews and additional content on our YouTube page. Recently we debuted Power Forward! -- a collaboration with BayWa r.e. to discuss higher level industry topics as well as best practices / trends for running a solar business today.

Our longer running side project is The Pitch -- in which we have awkward discussions with solar manufacturers and suppliers about their new technology and ideas so that you don't have to. We've discusses everything from residential rail-less deck attaching and home solar financing to large-scale energy storage value stacking and utility-driven new home solar + storage microgrids.

We also post our Project of the Year announcements there! Interviews with this year's winners will be up starting the week of Nov. 8. Head there and subscribe today to stay on top of all this extra stuff.

Tags: