New updates have been reported about energyRe (PC:ENERG)
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energyRe, a prominent U.S.-based energy developer, has successfully closed a $370 million financing deal for a series of solar projects in South Carolina. This significant financial milestone was achieved with the collaboration of major financial institutions including Santander, Bank of America, Natixis, and Societe Generale, who served as Coordinated Lead Arrangers. Santander also played a pivotal role as the Financial Advisor and Administrative Agent for the transaction. The projects are set to enhance energyRe’s capacity to deliver reliable and affordable energy, addressing the increasing energy demands in the U.S. Once operational, these solar projects are expected to generate enough electricity to power approximately 36,000 homes annually, underscoring energyRe’s commitment to sustainable and innovative energy solutions.
Ryan Brown, Chief Operating Officer of energyRe, emphasized the importance of these projects in redefining America’s energy landscape through scale, innovation, and strategic partnerships. Ricardo Pereira, Executive Director at Santander, highlighted the significance of renewable energy structuring and advisory in their service offerings, expressing satisfaction in supporting energyRe’s expansion of energy capacity in the U.S. With a broader portfolio of 16 gigawatts under development across the nation, energyRe continues to lead in utility-scale transmission, generation, storage, and distributed generation solutions. The company’s approach integrates community engagement and public-private partnerships, ensuring operational reliability and a ‘community first’ ethos in project development.