Treaty Oak Clean Energy, a US-based independent power producer, has closed a $300 million senior secured corporate credit facility to support the development of its utility-scale solar, wind, and battery energy storage projects across the country.
The financing was arranged by ING Capital, Nomura Corporate Funding Americas, and Sumitomo Mitsui Banking Corporation, which served as Coordinating Lead Arrangers. ING also acted as Green Loan Agent, and Nomura served as Administrative Agent. PEI Global Partners advised Treaty Oak on the transaction, with legal support from Latham & Watkins for the borrower and Norton Rose Fulbright for the lenders.
“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,” said Chris Elrod, Chief Executive Officer of Treaty Oak. “This financing reflects strong lender confidence in our business model and management team and gives us a competitive advantage.”
Proceeds from the credit facility will be used to support interconnection and offtake letters of credit, equipment procurement, and general corporate purposes as Treaty Oak seeks to advance its 17.3-gigawatt development pipeline.
“This transaction highlights the strength and capabilities of the Treaty Oak platform, supported by a syndicate of top-tier global lenders,” said Sky Fabian, Partner at PEI Global Partners. “We are pleased to work alongside the Company to secure a highly accretive credit facility that will enable the Company’s commercialization of the next wave of clean energy development projects across the US.”
Treaty Oak’s pipeline spans multiple US power markets and includes 17.3 GW of planned renewable capacity. The company has secured offtake agreements for 485 MW of projects, with more than 1 GW in active negotiation. Construction began in 2024 on the 100 MW Redfield solar project in Arkansas, with an additional 385 MW of solar capacity scheduled to break ground in Louisiana in 2025.
