Swift Current Energy Secures $750 Million Corporate Credit Facility to Accelerate U.S. Energy Development

Crédit Agricole CIB served as Administrative Agent and as a Coordinating Lead Arranger along with ING Capital and Truist Securities.  Key Bank National served as Collateral Agent and as a Joint Lead Arranger along with Banco Bilboa Vizcaya Argentaria, MUFG Bank, Royal Bank of Canada, and Wells Fargo Bank. Crédit Agricole CIB and ING Capital each served as Green Loan Structuring Agents.

The dual-tranche facility, with a 3-year term, provides Swift Current with flexible access to cash and letter of credit capacity as the company continues to develop, commercialize, own and operate large-scale energy projects across the country. With competitive pricing and flexible terms, the facility significantly expands Swift Current's financial capacity to advance its portfolio and support continued growth.

Since its founding in 2016, Swift Current has commercialized 5 gigawatts (GW) of clean energy projects, owns and operates more than 1 GW, and has more than 10 GW in development.

Michael Arndt, Chief Executive Officer of Swift Current, said, "The scale of this facility reflects both the strength of the portfolio Swift Current has built and the opportunity ahead of us. Electricity demand is growing rapidly across the United States and meeting that demand will require significant investment in new energy infrastructure. This financing gives our team additional flexibility to advance our platform, invest in high-quality projects, and bring new energy resources online quickly and efficiently."

Julien Tizorin, Head of Power and New Energy, Americas at Crédit Agricole CIB, said, "Swift Current has established an impressive track record of developing and operating large-scale energy projects across the United States. Crédit Agricole CIB is pleased to lead this financing and deepen our relationship with Swift Current as the company continues to grow its platform and advance projects that will help meet increasing U.S. energy demand."

Crédit Agricole CIB has previously supported Swift Current on project financings, including the financing of the company's 122 MWdc Three Rivers Solar facility in Maine.

Sven Wellock, Head of Renewables and Power, Energy, Americas at ING Capital, added, "This transaction reflects the continued maturation of the renewable energy sector, where scaled platforms increasingly require flexible corporate capital alongside project-level financing. Swift Current has built a diversified development and operating platform, and ING is pleased to continue our partnership as the company executes on its next phase of growth."

Josh Dale, Managing Director of Project Finance Origination at Truist Securities, said, "Truist is proud to support Swift Current Energy in refinancing its corporate facility, enabling the company to scale its platform efficiently and execute on its growth strategy."

Sidley Austin LLP served as counsel to Swift Current, and Norton Rose Fulbright served as lender's counsel.

About Swift Current Energy

Swift Current Energy is trailblazing a path for clean energy now. Founded in 2016, the company develops, commercializes, owns, and operates highly competitive, utility-scale solar, wind, and energy storage projects across North America. The company has commercialized 5 gigawatts (GW) of clean energy projects, owns and operates more than 1 GW, and has more than 10 GW in development. Swift Current Energy is majority-owned by funds managed by IFM Investors and Lookout Ridge Energy Partners.

For more information, please visit swiftcurrentenergy.com.

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SOURCE Swift Current Energy