- Treaty Oak Clean Energy secured $300 million from top global lenders to accelerate its 17.3GW pipeline of solar, wind, and battery storage projects across major U.S. markets.
- The funding will support project interconnection, equipment procurement, and offtake agreements.
U.S.-based independent power producer Treaty Oak Clean Energy has secured $300 million in corporate financing to accelerate the development of its 17.3-gigawatt pipeline of utility-scale solar, wind, and battery storage projects.
ING Capital, Nomura Corporate Funding Americas, and Sumitomo Mitsui Banking Corporation (SMBC) led the corporate credit facility. Treaty Oak plans to use the funds to support interconnection and offtake letters of credit, procure equipment, and cover general corporate expenses tied to its growing renewable energy portfolio.
“This facility strategically positions us to accelerate the buildout of important renewable projects in the U.S. and approach a market undergoing significant regulatory change,” said Chris Elrod, CEO of Treaty Oak. “This financing reflects strong lender confidence in our model and management team and gives us a competitive advantage.”
PEI Global Partners was the exclusive financial advisor, while Latham & Watkins represented Treaty Oak. Norton Rose Fulbright US LLP served as lenders’ counsel.
“This transaction highlights the strength of the Treaty Oak platform and the depth of support from top-tier global lenders,” said Sky Fabian, partner at PEI Global Partners. “We’re proud to deliver a highly accretive credit facility that will fuel the commercialisation of the next wave of clean energy projects across the U.S.”
Treaty Oak’s project pipeline spans key U.S. power markets. The company has secured long-term power purchase agreements (PPAs) or exclusivity agreements for 485 megawatts of projects, with another 1 gigawatt currently under negotiation.
Treaty Oak has started construction on the 100MW Redfield Solar Project in Arkansas and plans to break ground on an additional 385MW of solar capacity in Louisiana in 2025.