Invenergy has successfully obtained a $1.5bn sustainability-linked revolving credit facility, aimed at expediting its global growth efforts. This funding accentuates the current surge in corporate financing transactions in the United States, particularly noticeable since Q2 of this year.
Since March of this year, Enerdatics has observed an influx of more than $5.6bn through corporate fundraising deals. Prominent project developers, including Invenergy, Intersect Power, and Origis Energy, have taken the lead in procuring substantial funds through credit facilities and private equity (PE) investments, from firms such as Natixis, Blackstone and Sandander. In the face of elevated interest rates and increased project development expenses, these developers are strategically accessing the corporate market to ensure greater stability and foresight for their borrowing needs. Enerdatics believes that the acceleration is indicative of efforts to reduce the cost of capital through larger financing deals, replacing the traditional approach of securing project financing. This strategy aligns with their accelerated pursuit of renewable energy expansion to capitalize on incentives provided under the IRA.
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The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.