Strata Clean Energy secures $300 million revolver, LoC facility

By Marisa Wong

Los Angeles, Nov. 6 – Strata Clean Energy announced it closed a new $300 million revolving loan and letter-of-credit facility to expand its operational fleet and accelerate the commercialization of its diversified 17+ GW development pipeline, according to a press release.

Nomura Securities International, Inc. led the financing, acting as coordinating lead arranger, bookrunner, and Nomura Corporate Funding Americas, LLC acted as administrative agent. First Citizens Bank and ING Capital were joint lead arrangers alongside five other participant banks.

Nomura and ING Capital acted as green structuring agents.

The company said this loan adheres to a green financing framework in accordance with the 2023 Loan Syndications and Trading Association Green Loan Principles.

Loan proceeds will support the development, construction and operation of Strata’s upcoming renewable energy, energy storage and Power to X projects. This facility also provides working capital for Strata’s growing EPC and O&M divisions.

Nixon Peabody and Norton Rose Fulbright acted as borrower’s and lenders’ counsel, respectively.

Strata is a solar energy company based in Durham, N.C.

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