Swift Current obtains USD-300m revolving loan to advance pipeline

US renewables developer-operator Swift Current Energy on Monday announced the closing of a USD-300-million (EUR 270m) senior secured revolving credit facility, securing flexible growth capital for its pipeline of wind, solar and energy storage projects.

The company, which is majority-owned by Buckeye Energy Holdings, is progressing and growing a 10-GW project pipeline. By the end of 2024, it expects to own and operate more than 1 GW of renewable energy projects and to have commercialised 2.2 GW of capacity.

“As we prepare to operate more than 1 GW of projects by the end of the year, we are thrilled to align the capital needed to charge our continued growth,” said CEO and co-founder Eric Lammers.

First Citizens Bank acted as structuring agent, bookrunner and coordinating lead arranger for the transaction. Deutsche Bank AG and Truist Securities Inc served as the coordinating lead arrangers, while National Westminster Bank PLC and Sumitomo Mitsui Banking Corporation participated as joint lead arrangers.

(USD 1 = EUR 0.901)

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