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AES Corporation Acquires USA's Largest Permitted Solar Plus Storage Project of 2 GW
In a key development that would further USA’s renewable energy ambitions, renewable energy platforms Origis Energy has announced the close of an upsizing amendment to their development finance facility doubling capacity to $750 million.
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Miami-headquartered Origis Energy said that with enhanced flexibility and increased capacity, the credit facility will support further expansion of its solar and energy storage project pipeline. This financing round follows a $375 million facility announced in May 2022.
Origis Energy calls the facility as the largest announced this year for a utility scale solar and storage development project pipeline. CIT was the lead arranger; supported by Santander, Deutsche Bank, HSBC, Rabobank, and Nomura among others.
“The recent passing of the Inflation Reduction Act invoking incentive stability, market demand for high quality clean energy generation and the strong Origis track record drove high interest in this financing round,” said Jamie Edwards, Managing Director, Finance & Accounting, Origis Energy.
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He added, “The offering upsizes our 2022 facility by double, and was also oversubscribed. We thank CIT for their structuring creativity, Antin Infrastructure Partners for strong sponsor backing and the instititutions demonstrating their confidence in Origis. On behalf of the Origis team, and the customers who look to us to help deliver on their clean energy goals, we thank our existing financial partners and welcome the new members.”
Mike Lorusso, Managing Director and Group Head for CIT’s Power and Energy, unit commented, “Proven teams with high quality projects are moving the clean energy transition forward. The Origis Energy team is working to solve tomorrow’s challenges with solutions today and we are proud to continue to support their growth.”
Origis Energy is majority owned by funds managed by Antin Infrastructure Partners. A week ago, Origis Energy entered into an agreement with to procure an additional 2 gigawatts of Series 6 Plus and Series 7 thin film solar modules for delivery in 2026 and 2027.
