Eolian Announces Closing Of $925 Million Renewable Energy Financing – EQ Mag Pro
NEW YORK : Eolian, L.P. (“Eolian”), a portfolio company of Global Infrastructure Partners (“GIP”), together with Banco Santander, Natixis, MUFG and Mizuho, today announced the closing of a $925 million renewable energy financing.
This novel structured transaction will further advance multiple strategies already underway as the Eolian team rapidly accelerates the deployment of cost-effective decarbonizing technologies across the US.
“Eolian is delighted to announce the closing of this significant financing with an extraordinary group of global banks,” said Eolian CEO Aaron Zubaty. “We value relationships and cooperation first and foremost and were fortunate to work with a group of lenders that appreciated the unique attributes and scale of our renewable energy assets while also taking constructive, innovative, and collaborative approaches to lending, structuring, and hedging.”
“We are delighted to be the Agent Bank, Joint Lead Arranger and Bookrunner for Eolian, L.P. in this unique financing. Such a vastly diversified portfolio of high-quality renewable assets at this scale is so difficult to assemble and we would like to congratulate the Eolian and GIP teams for this achievement. Santander looks forward to further supporting Eolian and GIP as they execute their ambitious growth strategy for this one-of-a-kind platform.”
— Nuno Andrade, Head of Structured Finance US, Banco Santander.
“We are proud of this innovative renewable energy financing, which leverages the unique strengths of Eolian’s business model. This transaction is reflective of our commitment to climate change mitigation across the suite of our banking products, and deploys our unique Green Weighting Factor® methodology that is designed to promote financing transactions that have a positive climate impact. This marks our second financing with Eolian, and follows our bilateral $100mm LC facility that closed in November 2021.”
— Nasir Khan, Head of Infrastructure and Energy Finance, Americas at Natixis Corporate & Investment Banking.
“MUFG is proud to have helped Eolian put together a bespoke structured transaction utilizing our experience in complex renewable energy structuring and close sponsor relationships.”
— Louise Pesce, Managing Director Project Finance, MUFG.
“Mizuho Americas is excited to play an important role in Eolian’s unique financing. Partnering with infrastructure developers and financial sponsors that have a major impact on energy transition to counter climate change is a core tenant of our Investment & Corporate Banking strategy. We look forward to furthering Eolian’s mission to develop renewable energy solutions nationwide.”
–Paul McNutt, Head of Power, Energy & Infrastructure, Mizuho Americas.
About Eolian, L.P.
Eolian, L.P. (“Eolian”) owns and operates a growing portfolio of energy storage projects and invests in the most experienced renewable energy development teams in the U.S. For nearly 20 years, Eolian’s founding management has worked together to build the assets at the core of the company, creating unique and proprietary structures that have directly funded the development of more than 25,000 MW of successfully operating energy storage, solar and wind generating capacity across the country. Eolian is owned by its employees and funds managed by Global Infrastructure Partners (GIP), a global, independent infrastructure investor.
About Global Infrastructure Partners
Global Infrastructure Partners (“GIP”) is a leading global infrastructure investment firm with approximately $81 billion in assets under management. The funds and investment platforms managed by GIP make equity and debt investments in infrastructure assets and businesses in both OECD and selected emerging market countries, targeting investments in the energy, transport, digital, and water / waste infrastructure sectors where GIP possesses deep experience and relationships. GIP combines industry and operating expertise with a focus on growth to generate superior returns for all stakeholders. GIP’s funds currently own 40 portfolio companies which have combined annual revenues of approximately US$40 billion and employ in excess of 58,000 people. GIP has offices around the world with major hubs in New York, Stamford, London, Sydney, Hong Kong and Mumbai.
