Natixis Arranges Debt And Equity Financing For Slate Solar Plus Storage Project

NEW YORK, Aug 20, 2021 /PRNewswire/ — Natixis immediately introduced the profitable completion of two separate financings to help Project Slate, a solar-plus-storage venture being in-built Kings County, California. Project Slate is owned by Goldman Sachs Renewable Power (“GSRP”), an funding firm managed by the Renewable Power enterprise of Goldman Sachs Asset Management. Upon completion of building, Project Slate may have a capability of 300 MWac Solar PV +140 MW / 561 MWh battery storage, making it one of many largest photo voltaic plus storage tasks on this planet.

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In June 2021, Natixis acted as Administrative Agent and Joint Lead Arranger $515.9 million senior secured credit score services to Project Slate. Previously, Natixis acted as Sole Lead Arranger for a $150 million Equity Bridge Loan, the proceeds of which will probably be used to fund GSRP’s fairness contribution to Project Slate.

“Together, these transactions finance debt and equity costs for Project Slate demonstrate our ability to serve our key customers with financing products across the capital stack,” mentioned Nasir Khan, Head of Infrastructure & Energy Finance for America at Natixis. “Natixis is committed to funding clean energy projects and accelerating our energy transition.”

Project Slate’s Debt Construction Financing Marks Natixis’ Second Solar Plus Storage Financing In America In As Many Months And Comes On Back Of Clearway’s $285 million funding for its Mililani I and Waiawa Solar Plus storage services in Hawaii in May 2021, the place Natixis acted as Coordinating Lead Arranger. Those transactions are among the many 26 Infrastructure Finance transactions that Natixis closed within the US within the first half of 2021.

About Natixis
Natixis is a French multinational monetary companies firm specializing in wealth and asset administration, company & funding banking, insurance coverage and funds. A subsidiary of Groupe BPCE, the second largest banking group in France via its two retail banking networks, Banque Populaire and Caisse d’Epargne, Natixis employs greater than 16,000 individuals in 36 nations. Its purchasers embrace firms, monetary establishments, sovereign and supranational organisations, in addition to the purchasers of Groupe BPCE’s networks. Natixis has a stable monetary basis with CET1 capital under Basel 3⁽¹⁾ of €12.4 billion, a Basel 3 CET1 ratio⁽¹⁾ of 11.5% and long-term high quality assessments (default & Poor’s: A / Moody’s: A1 / Fitch Ratings: A+).
⁽¹⁾ Based on CRR-CRD4 guidelines as reported on June 26, 2013, together with the Danish compromise – with out phasing in.
Figures as at June 30, 2021

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SOURCE Natixis