Swift Current Energy secures up to $1 billion credit facility

Swift Current Energy, a renewable energy project developer, has closed a $750 million corporate credit facility. The dual-tranche, three-year term facility includes a $250 million accordion option, which could increase the total capacity to $1 billion.

The financing provides the company with cash and letter of credit capacity to support the development, commercialization, ownership, and operation of large-scale energy projects across the United States. This includes utility-scale solar, wind, and energy storage projects.

Crédit Agricole CIB served as the administrative agent and coordinating lead arranger alongside ING Capital and Truist Securities. KeyBank National Association acted as collateral agent and joint lead arranger, working with Banco Bilbao Vizcaya Argentaria, MUFG Bank, Royal Bank of Canada, and Wells Fargo Bank. Crédit Agricole CIB and ING Capital also served as green loan structuring agents.

Founded in 2016, Swift Current Energy has commercialized 5 GW of clean energy projects and currently owns and operates more than 1 GW. The company reports having more than 10 GW of projects under development.