Broad Reach Power closes $160 million project financing

By Marisa Wong

Los Angeles, July 28 – Broad Reach Power announced it closed a $160 million project financing for 17 operating battery energy storage systems in Texas and one in California.

The projects being financed are front-of-the-meter, utility-scale assets using lithium-ion technology from a diverse pool of manufacturers.

Deutsche Bank AG, New York Branch and MUFG Bank Ltd. acted as coordinating lead arrangers and joint bookrunners for the financing. MUFG acted as administrative agent, and Deutsche Bank Trust Co. Americas acted as depositary bank and collateral agent.

Milbank LLP represented the company on the financing transaction, and Paul Hastings LLP represented the lenders.

Based in Houston, Broad Reach Power owns a portfolio of utility-scale battery storage and renewable power projects across the United States.

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