Secures an Up to $800 Million Revolving Credit Facility to Support Expansion of its Clean Energy Platform
Summary
Partnering with Coordinating Lead Arrangers and Joint Bookrunners, Deutsche Bank AG, Nomura Securities International, and Santander Corporate & Investment Banking (CIB), Intersect closed on this revolving loan and letter of credit facility that will be used to further support Intersects development pipeline and growing operational fleet.Santander CIB acted as Green Structuring Agent and Administrative Agent. This financing will help facilitate Intersects important contribution to the decarbonization of the U.S. power grid and evidences Deutsche Banks continued commitment to support the premier developers in the sector. Riverside Risk Advisors LLC supported Intersect as interest rate hedge advisor.This new credit facility follows $1 billion in growth equity investment from TPG Rise Climate, CAI Investments and Trilantic Energy Partners North America.Intersect Power is a clean energy company bringing innovative and scalable low-carbon solutions to its global customers. The company develops some of the worlds largest clean energy resources providing low-carbon electricity, fuels, and related products to its customers. The companys business plan includes growth in grid-tied renewables, as well as large-scale clean energy assets such as green hydrogen.