Solar+Storage

Nexamp Secures $440 Million for Solar and Energy Storage Portfolio

Nexamp, Inc., a main renewable energy generator and local area solar supplier, has shut a $440 million senior got credit office for a 380-megawatt portfolio of solar and energy stockpiling resources, the biggest debt financing of its sort. The assorted portfolio traverses five state markets and comprises of almost 100 local area solar tasks, including energy stockpiling limit adding up to 120MWh. MUFG Union Bank, N.A. filled in as the Coordinating Lead Arranger for the partnered financing, which included support from a far reaching gathering of market-driving loan specialists.

Nexamp has arisen as the biggest proprietor administrator of local area solar resources across the area's quickest developing business sectors, and this financing mirrors the organization's situation as a market chief with a demonstrated history of renewable energy financing and resource arrangement. Evenhanded admittance to clean energy is a sign of Nexamp's main goal; this declaration insists the accomplishment of the organization's imaginative local area solar stage that makes solar a possibility for anybody, with no credit checks for people, no direct charges, nothing to introduce and no drawn out responsibility.

"The strong lender interest in response to this portfolio demonstrates the momentum behind the renewable energy industry and is a clear validation of Nexamp's approach," noted Peter Tawczynski, Chief Financial Officer, Nexamp. "We have built the most progressive and accessible community solar model available today, removing many of the traditional barriers and making it simple for customers to partner with Nexamp. As we bolster our solar portfolio with energy storage solutions, we look forward to launching new products in more geographies and delivering savings to our expanding customer base."

The financing course of action, joined with Nexamp's extraordinarily coordinated plan of action, positions the organization for quickened development in the coming year. Nexamp creates, gets, assembles, claims and works its solar and capacity projects, while getting and dealing with a quickly developing client endorser base of in excess of 25,000 homes and organizations. With almost 300 new solar and capacity projects in the pipeline, this financing perceives Nexamp's unparalleled ability to make clean energy open rapidly to more networks.

"Nexamp aims to help our customers and partners accelerate their decarbonization journey. Our community solar platform is an increasingly important part of that process for many, combining meaningful cost savings with a simple way to contribute to the clean energy revolution," said Nexamp CEO Zaid Ashai. "This financing enables Nexamp to double down on our own urgent mission to deliver sustainable energy options for our customers in an equitable manner."

"Distributed power generation—and community solar in particular—is a growing segment of the renewable energy market that plays a vital role in reducing carbon emissions with the participation of a wide range of community members, and Nexamp is a reputable market leader in this field," says Takaki Sakai, Managing Director of MUFG's Project Finance team that led the financing. "MUFG is honored to help Nexamp advance its continued growth through the successful closing of this landmark debt financing—one of the largest to have been provided to a community solar portfolio—and we look forward to continuing our strong partnership."

About Nexamp

Nexamp is leading the transformation to the new energy economy with proven solar and storage solutions that make clean energy more accessible. Our comprehensive solar and energy storage capabilities—including project development and acquisition, design, construction, and operations—make it possible to extend clean energy savings and benefits to more customers. Nexamp's industry-leading community solar platform makes solar an option for anyone, providing guaranteed savings on their annual electricity costs. With more than 300 MW of renewable energy generating assets currently in operation, we are building a decarbonized energy future.

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Greenwood Sustainable Infrastructure (GSI)-Led Joint Initiative with Ocean Man First Nation to Build One of the Largest Solar Projects in Canada

PR Newswire | January 25, 2024

Greenwood Sustainable Infrastructure LLC (GSI), one of the renewable energy subsidiaries of Libra Group, announced that Iyuhána Solar (Iyuhána), a GSI-led partnership with Saturn Power Inc. and Ocean Man First Nation, has been awarded a Power Purchase Agreement (PPA) to construct and operate a 100-megawatt (MWac) utility-scale solar facility in Saskatchewan, Canada. Developed in partnership with Ocean Man First Nation, the project will be one of Canada's top 10 solar facilities by size. Under an exclusive PPA, the largest with a utility in Canada since 2015, Iyuhána plans to invest approximately $200 million (CDN) to construct the solar facility, which it will operate, supplying generated power to the principal municipal utility company, SaskPower, for 25 years. Located in the Rural Municipality of Estevan in southeast Saskatchewan, this emissions-free solar facility will produce enough power for the equivalent of approximately 25,000 homes. "We are proud to bring the transformative power of solar energy to Saskatchewan by working with partners such as Ocean Man First Nation," said Mazen Turk, CEO of GSI. "This unique collaboration shows the power of renewable energy to harness resources and empower communities responsibly. This work is core to our ethos as a Libra company, and we look forward to continuing to help support a clean energy future across Canada and beyond." As a founding partner, Ocean Man First Nation will have an ownership stake in Iyuhána Solar. Band members will also receive specialized training to maintain the solar facilities and employment opportunities with the project. Additionally, partnering with two of Saskatchewan's leading post-secondary academic institutions, Iyuhána will provide scholarships, internships, and direct research projects in clean energy to benefit the community. "Our partnership with GSI and SaskPower will bring great opportunities for Ocean Man First Nation, including employment and revenue that will provide stability and sustainability for our Band," said Chief Connie Big Eagle, Ocean Man First Nation. "We are proud that this project, which is able to generate clean power, will be known as Iyuhána Solar, which, in Nakotah translates to 'everyone' or 'all of us.' This is derived from our Nakotah belief that everyone and everything is related and therefore we must care for each other." While investment in renewable energy grows across Canada, Saskatchewan's clean power supply mix has predominantly consisted of hydro and wind. This is the first of many planned solar projects in the province; by 2035, SaskPower plans to support approximately 3000 MW of new renewable energy capacity in the region. "This new solar facility will play an important role in our path to net-zero by 2050 or sooner," said Rupen Pandya, SaskPower President and CEO. "We are proud of our ongoing collaboration with Indigenous peoples and the critical role they are playing in the successful expansion of renewable energy in our province." GSI is one of four renewable energy subsidiaries of Libra Group, a privately owned, global business group that encompasses 20 businesses in six sectors, including renewable energy, maritime, aerospace and more. The Group's renewable energy portfolio encompasses approximately 3.5 gigawatts (GW) of projects owned, developed, or pending development in 10 countries, including solar, wind, battery storage, and waste-to energy projects. This is the second partnership with an indigenous community led by a Libra Group subsidiary. "Libra Group is proud of this novel partnership, which has come together through shared values and a commitment to driving economic growth and positive outcomes for communities," said Libra Group's CEO Manos Kouligkas. "Sustainability is core to our global business, and we look forward to continuing to leverage synergies across our six sectors in 60 countries with agility and impact." Last year, GSI acquired Saturn Power Inc.'s solar and battery development portfolios, including its team of seasoned developers and an approximate 1.4-gigawatt (GW) pipeline of early- to late-stage solar and energy storage projects. Today, GSI has a footprint across Canada and in 12 U.S. states. About Greenwood Sustainable Infrastructure Greenwood Sustainable Infrastructure (GSI) is one of the clean energy subsidiaries of Libra Group. GSI is a renewable energy company focused on the development, construction, and operation of distributed generation and utility-scale solar energy and battery storage projects in North America. As of January 2024, the company developed approximately 388 MW DC across 71 renewable energy projects, many of which are still owned or operated by GSI and have an additional project pipeline of 1.6 GW. GSI's seasoned team has a proven track record of investing in power assets and partnering with multiple top-tiered investors. For more information on Greenwood Sustainable Infrastructure (GSI), visit: http://www.greenwoodinfra.com/ About Ocean Man First Nation The Ocean Man First Nation is a Nakota, Cree, and Saulteaux Band Government in southeast Saskatchewan. OMFN is led by Chief Connie Big Eagle & Council and features a population of 565 members. Ocean Man First Nation created a renewable energy company in 2019 called Second Wind Power. The name Second Wind Power reflects Ocean Man First Nation's history of relocating, re-establishing and starting over as a new community since 1989. About Libra Group Libra Group is a privately owned, global business group encompassing 20 businesses predominately focused on aerospace, renewable energy, maritime, real estate, hospitality, and diversified investments. With assets and operations in nearly 60 countries, the Group applies the strength of its global network and capabilities to deliver cross-sector insights and growth at scale.

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