💼 Invenergy's billion-dollar financing spree: The $1.27bn debt deal will enable the construction of a 677 MW renewable portfolio expected to be operational by Q1 2025. Once the projects are operational, Invenergy will transfer ownership to AEP. The deal marks Invenergy’s third $1bn+ debt deal for renewables development in the US, since the start of 2021.
🔍 $5bn YTD 2024 debt milestone: Enerdatics understands that the US has witnessed over $5bn in project financing deals for solar and wind assets in the first quarter of 2024. Other major deals include Arevon Energy’s $654mn fundraising from JP Morgan and National Bank of Canada and Longroad Energy’s $650mn financing with CIBC and Societe Generale.
🌞 Solar Dominance: Solar projects lead the charge, accounting for ~75% of the deal activity. Many of these projects also included co-located battery energy storage systems (BESS), reflecting investor appetite for round-the-clock renewable energy.
đź“Ť State Spotlight: Texas, California, Arizona, and Kansas are at the forefront, with Texas alone accounting for over $1.5bn. These four states represent over $2.5bn in total financings, YTD 2024.
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.
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