Origis secures $375 million facility for solar energy projects

By William Gullotti

Buffalo, N.Y., May 3 – Origis Energy announced it closed a $375 million credit facility for its solar and energy storage development project pipeline, according to a press release on Tuesday.

The release described the facility as innovative for the renewable energy industry, which bundles letters of credit with equipment financing.

CIT (a division of First Citizens Bank), Deutsche Bank, HSBC, Nomura, Rabobank and Santander are the coordinating lead arrangers of the facility, which will fund the 20-plus gigawatt pipeline.

“Origis Energy is pleased to welcome our new financial partners. With their support, we are positioned to accelerate the growth of our development pipeline and secure the critical equipment necessary to meet our customers’ renewable energy needs. ... The facility was oversubscribed, demonstrating strong support for Origis and the long-term opportunities in the renewable sector,” said Origis Energy’s managing director of finance and accounting, Jamie Edwards.

Latham and Watkins represented Origis Energy. Norton Rose Fulbright acted as lender counsel.

Origis is a Miami-based solar development and construction firm with an international photovoltaic portfolio of more than four gigawatts, up from 600 megawatts in 2016.

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