Treaty Oak Secures USD 300 Million to Expand 17.3 GW Clean Energy Pipeline in the US

Treaty Oak Clean Energy, a US-based independent power producer (IPP), has closed a USD 300 million senior secured corporate credit facility to fast-track its 17.3 GW pipeline of utility-scale solar, wind, and battery energy storage system (BESS) projects across the country. The move comes amid growing regulatory momentum for clean energy in the United States.

The credit facility was arranged by ING Capital LLC, Nomura Corporate Funding Americas LLC, and Sumitomo Mitsui Banking Corporation (SMBC), who acted as Coordinating Lead Arrangers. ING also served as Green Loan Agent, while Nomura was appointed Administrative Agent.

PEI Global Partners acted as the exclusive financial advisor to Treaty Oak, with legal counsel provided by Latham & Watkins LLP for the borrower and Norton Rose Fulbright US LLP for the lenders.

Enabling Nationwide Project Deployment

The funding will support Treaty Oak’s rapid expansion strategy. This will enable the company to finance interconnection and offtake letters of credit, procure critical equipment, and meet general corporate expenditure needs. 

Treaty Oak CEO Chris Elrod said, “This facility strategically positions us to accelerate our buildout of important renewable projects in the US and opportunistically approach a market that is experiencing significant regulatory change.”

Treaty Oak’s pipeline is geographically diversified across major US power markets and includes a mix of utility-scale solar, wind, and energy storage assets. The company has already commenced construction of the 100 MW Redfield Solar Project in Arkansas and is set to begin construction on another 385 MW of solar in Louisiana in 2025.

Strong Offtake Strategy and Market Confidence

To date, Treaty Oak has secured or is in exclusive negotiations for power purchase agreements (PPAs) covering 485 MW of capacity, with over 1 GW of additional offtake under active negotiation. The company’s custom offtake strategy and ties with reputed buyers have been critical to its project success, the company insisted.

Sky Fabian, Partner at PEI Global Partners, commented, “This transaction highlights the strength and capabilities of the Treaty Oak platform, supported by a syndicate of top-tier global lenders.”

Backed by Macquarie’s Global Clean Energy Footprint

Treaty Oak is backed by Macquarie Asset Management, a global investment manager overseeing USD 588.1 billion in assets, including more than 105 GW of green energy capacity in construction, operations, or development. 

Tumultuous Times

The development comes at a time when the regulatory uncertainty in the US clean energy sector is at an all-time high. The major renewable players are exiting or curtailing their renewable footprints in the country that once actively pushed for renewable growth. BP recently exited the US onshore wind market, selling its wind business to LS Power. The imbalance became more pronounced after the Trump administration passed the One Big Beautiful Act Bill.