Intersect Power announced the closing of an up to $800 million new revolving corporate credit facility to support its growth and expansion of its clean energy platform.
Deutsche Bank, Nomura Securities International, and Santander Corporate & Investment Banking (CIB) are Lead Arrangers and Joint Bookrunners.
Intersect will use credit facility to support Intersect’s renewables, energy storage, and green hydrogen projects.
Santander CIB acted as Green Structuring Agent and Administrative Agent. Additional banks participating in the facility include Joint Lead Arrangers, First Citizens Bank, and HSBC, as well as participating lender Celtic Bank Corporation.
The loan includes a Green Financing Framework that adheres to the 2023 LSTA1 Green Loan Principles and ICMA2 Green Bond Principles. Intersect’s Green Financing Framework was reviewed by Morningstar Sustainalytics, who published a Second-Party Opinion Report on Intersect’s adherence to the Green Loan Principles.
This new credit facility follows $1 billion in growth equity investment from TPG Rise Climate, CAI Investments, and Trilantic Energy Partners North America.