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Eolian and Group of Global Banks Announce Closing of $390 Million Renewable Energy Financing

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4 months ago

July 30, 2024

BURLINGAME, Calif., July 30, 2024 /PRNewswire/ — Eolian, L.P. (“Eolian”), a portfolio company of Global Infrastructure Partners (“GIP”), together with Santander Corporate & Investment Bank, MUFG, National Australia Bank, Natixis, Lloyds Bank, and SMBC, today announced the closing of a $315 million renewable energy green loan and $75 million revolving credit facility, building on a $515 million green loan closed in June 2023 with the same group of global banking institutions. This financing is secured by a diverse group of eligible green project assets created by Eolian and is aligned with the four pillars of the Green Loan Principles, jointly published by the Asia Pacific Loan Market Association (APLMA), the Loan Market Association (LMA) and the Loan Syndications and Trading Association (LSTA) in February 2023.

“It is with deep gratitude to this esteemed group of global financial institutions that we announce another long-term financing backed by our portfolio of diversified and reliable cashflows, generated solely from a broad set of operating renewable energy projects across the US,” said Eolian CEO Aaron Zubaty. “The closing of these facilities provides further validation of our creative and patient strategies for developing the vital infrastructure that will solve the growing energy supply challenges of the future.”

“Eolian is playing an important role in the US energy transition and we are proud to support the company as it continues to find solutions to the challenges faced by the renewables sector. The business has created an innovative approach to development that maximizes long-term sustainability in an increasingly grid-constrained energy landscape. The renewables sector is a growing part of our business, and we look forward to supporting more innovation and development.”

—James Taylor, MD, Global Head of Infrastructure and Project Finance, Lloyds Bank

“Santander Corporate & Investment Banking (“SCIB”) is pleased to continue extending our support to Eolian in the second phase of this innovative and strategic financing. Eolian continues to be a leader in the energy transition, and we look forward to further supporting Eolian and GIP on their ambitious growth strategy.”

— Andrew Platt – Head of Structured Finance US, SCIB

“We are thrilled to continue our support of Eolian, with the Lipari II and Lipari Royalty Holdco financings. In partnering with Eolian, which has a major impact on energy transition to counter climate change, MUFG is furthering our strategy of supporting decarbonization and the growth of renewable energy solutions nationwide.”

— Louise Pesce, Managing Director, Project Finance, MUFG Bank Ltd.

“SMBC is delighted to further support Eolian with this important transaction. Eolian continues to play an important role in enabling and expanding renewable generation, and we appreciate the opportunity to partner with them in their growth.”

—Paul Jun, Head of Power & New Energies Project Finance, North America, SMBC

About Eolian, L.P.

Eolian, L.P. (“Eolian”) operates a growing portfolio of battery energy storage projects and develops and invests in renewable energy and clean molecule projects across the US. For over 20 years, Eolian’s founding management has worked together to build the assets at the core of the company, creating unique and proprietary structures that have directly funded the development of 26 GW of successfully operating energy storage, solar, and wind-generating capacity across the country. Eolian is owned by its employees and funds are managed by Global Infrastructure Partners (GIP), a leading infrastructure investor. For more information, follow Eolian on LinkedIn or visit www.eolianenergy.com.

About Global Infrastructure Partners (GIP)

Global Infrastructure Partners (GIP) is a leading infrastructure investor that specializes in investing in, owning and operating some of the largest and most complex assets across the energy, transport, digital infrastructure and water and waste management sectors. With decarbonization central to our investment thesis, we are well positioned to support the global energy transition. Headquartered in New York, GIP has offices in Brisbane, Dallas, Hong Kong, London, Melbourne, Mumbai, Singapore, Stamford and Sydney.

GIP has approximately $115 billion in assets under management. Our portfolio companies have combined annual revenues of approximately $71 billion and employ over 116,000 people. We believe that our focus on real infrastructure assets, combined with our deep proprietary origination network and comprehensive operational expertise, enables us to be responsible stewards of our investors’ capital and to create positive economic impact for communities. For more information, visit www.global-infra.com.