PureSky Energy, a prominent developer of community solar and battery storage projects in the US, has successfully closed a 3-year revolving credit facility worth $150 million. Led by Nomura Securities International as the Sole Lead Arranger, this milestone facility provides PureSky Energy with the financial flexibility to capitalize on the growing demand for clean energy projects.
The credit facility includes unique features that support interconnection and equipment financing, enabling PureSky Energy to allocate capital towards ongoing construction projects and its expanding greenfield and acquisition pipeline. This affirming development establishes PureSky Energy’s position as an industry leader in community solar, C&I (commercial and industrial), and battery storage.
This achievement comes in the wake of PureSky Energy’s acquisition in June 2023 by Palisade Infrastructure Group and Fiera Infrastructure, two esteemed global infrastructure funds. The successful debt facility highlights PureSky Energy’s strong track record in operations and its ability to seize opportunities in the flourishing solar power and battery storage markets.
Jared Donald, President and CEO of PureSky Energy, expressed his enthusiasm for the future. He stated, “Together with the support of our new shareholders, this financing provides us with the ability to further accelerate the buildout of our operating portfolio, including via targeted M&A of project portfolios at earlier stages of development, which require significant capital to advance interconnection and permitting activities. We are excited to partner with Nomura to finance new projects while accelerating the global energy transition across our existing and new markets.”
Vinod Mukani, Global Head of Nomura’s Infrastructure and Power Business (“IPB”), commended PureSky Energy’s transformational expansion plans. He remarked, “Nomura is pleased to provide a creative solution and liquidity to PureSky Energy in its next phase of transformational expansion under Palisade Infrastructure and Fiera Infrastructure’s ownership. The transaction is exemplary of our mission, which is to champion platforms like PureSky Energy in renewable development, broadening energy customers’ access to affordable and clean energy.”
Hua Ding, Executive Director at Nomura’s IPB, expressed satisfaction in collaborating with PureSky Energy, Palisade Infrastructure, and Fiera Infrastructure on this strategic financing. Ding said, “As a leading institution in clean energy financing, we are proud to deliver execution certainty and offer highly customized solutions to serve PureSky Energy’s growth strategy.”