rPlus Energies has closed a revolving credit facility of up to US$450 million to support solar and battery-storage development and construction across the American West. The company announced the deal on 3 November, with lenders’ adviser Milbank confirming it on 4 November.
The three-year facility combines borrowing capacity with letters of credit. CIBC’s New York branch led the arrangement and acts as administrative agent, alongside a syndicate including National Bank of Canada, Truist, KeyBank, Wells Fargo, MUFG and Zions.
Cash flows from nearly 1 GW of operating assets support the facility, including Green River Energy Center and Pleasant Valley Solar 2. Both entered commercial operation and completed term financing earlier this year, according to the transaction announcement.
The agreement provides financing capacity for the next development pipeline. It is not confirmation that the full US$450 million has been drawn or that every proposed project has reached construction.
Lenders’ adviser announcement.
Illustrative technology file photograph: solar panels photographed by Gentry George / US Fish and Wildlife Service; capture date and location unspecified, archived in 2013. Not an rPlus project. Source and public-domain release. Resized and converted to WebP.
Compiled by Energy People with AI assistance from linked sources.
