Hecate Grid Secures $125 Million Letter of Credit Facility Package with MUFG
Summary
The facility will be used to finance interconnection and offtake security for Hecate Grids portfolio of more than 30 standalone energy storage projects. "Stephane Kofman, Partner and Head of Value-add funds at InfraRed, said: "Hecate Grid is playing an important role in accelerating Americas renewable energy transition and this facility further reinforces our growth ambition for the company. Hecate Grid has an active project pipeline of over six gigawatts of energy storage projects in development throughout the U.S. For more information on Hecate Grid, please visit www.hecategrid.com.InfraRed Capital Partners is an international infrastructure asset manager, with more than 160 professionals operating worldwide from offices in London, Madrid, New York, Sydney and Seoul. Over the past 25 years, InfraRed has established itself as a highly successful developer and steward of infrastructure assets that play a vital role in supporting communities. InfraRed represents the infrastructure equity arm of SLC Management, which also incorporates BGO, a global real estate investment management adviser, and Crescent Capital, a global alternative credit investment asset manager.Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the worlds leading financial groups.