Debt financing from Nomura Securities International, Inc. to fuel build-out of more than 250 megawatts of solar and energy storage
Agilitas Energy, the largest integrated developer, builder, owner and operator of distributed energy storage and solar photovoltaic (PV) systems in the northeastern U.S., today announced the closing of $100 million in debt financing to fund its growth and continued national expansion. Nomura Securities International, Inc. acted as sole bookrunner, lead arranger, and Nomura Corporate Funding Americas, LLC acted as administrative agent (together, “Nomura”) on the deal, which may be further upsized to $200 million upon the completion of certain projects.
The financing is a strategic milestone for the company and will accelerate Agilitas Energy’s build-out of solar and energy storage projects construction totaling more than 250 megawatts (MW) over the next three years. The company is currently developing and constructing more than one gigawatt (GW) of renewable energy and energy storage projects throughout the United States, and quickly expanding its footprint nationally through greenfield origination, acquisition and strategic partnerships with high-quality developers.
“This debt financing and the beginning of our relationship with Nomura represents far more than the capital necessary for us to develop, build and operate the solar, storage and hybrid projects that Agilitas Energy has always excelled at,” said Michael Slattery, Chief Financial Officer, Agilitas Energy. “It signifies recognition and trust from a major multinational financial institution that Agilitas Energy offers unparalleled value through our integrated approach and will help us accelerate our growth trajectory across multiple asset classes and geographies.”
The company will use the funds to construct its existing project pipeline while continuing to actively acquire and develop solar, standalone storage and hybrid projects across the country. Once built, the energy assets will be owned and operated by Agilitas Energy and AB CarVal’s joint venture which was established in 2022. AB CarVal, an established global alternative investment manager, remains a strategic investor in Agilitas Energy.
“Nomura is extremely pleased to leverage our financial and intellectual capital to partner with Agilitas as it expands its geographic footprint and business,” said Vinod Mukani, Global Head of Nomura’s Infrastructure & Power Business (“IPB”). “Creating and executing bespoke financing solutions for top notch developers, owners and operators like Agilitas is core to Nomura’s DNA, and this transaction is emblematic of our business strategy.”
“We look forward to our partnership with Agilitas Energy as the company continues to rapidly grow its portfolio of solar and storage projects across the U.S.,” said Alain Halimi, Managing Director, Nomura’s IPB. “As a solution-oriented firm, this financing is another example of Nomura’s ongoing commitment to provide customized financing solutions to experienced developers, owners and operators.”
Agilitas Energy’s core competencies include project origination, development, project engineering, debt and tax equity financing, engineering procurement and construction (EPC) and asset management – including energy storage revenue optimization. The company has developed a proprietary bidding and forecasting model, Intelligent Power Dispatch, that helps optimize revenue by predicting market conditions in day-ahead and real-time energy markets.
To learn more about how Agilitas Energy can deliver an energy solution or serve as a partner on a renewable project, please visit https://agilitasenergy.com/contact/.
About Agilitas Energy
Agilitas Energy is a leading renewables and energy storage company with a mission to accelerate the transition to clean energy on a national scale. As the largest integrated developer, builder, owner and operator of energy storage and solar PV systems in the northeastern U.S., Agilitas Energy manages the entire end-to-end lifecycle of the projects that deliver predictable, cost-efficient, clean energy for off-takers, utilities and municipalities. The company has a U.S. pipeline of more than one gigawatt of renewable energy and energy storage projects as part of its national expansion. To learn more, please visit: https://agilitasenergy.com/.
About Nomura
Nomura is a global financial services group with an integrated network spanning approximately 30 countries and regions. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Wealth Management, Investment Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit www.nomura.com.
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