Natixis Coordinates Slate Solar Plus Storage Project’s Financings

Natixis has successfully closed two separate financings in support of Project Slate, a solar plus storage project being constructed in Kings County, Calif. Project Slate is owned by Goldman Sachs Renewable Power (GSRP), an investment company managed by the Renewable Power business within Goldman Sachs Asset Management. Upon construction completion, Project Slate will have a capacity of 300 MW AC Solar PV +140 MW / 561 MWh battery storage.

In June 2021, Natixis acted as administrative agent and joint lead arranger on $515.9 million senior secured credit facilities to Project Slate. Earlier, Natixis acted as sole lead arranger for a $150 million equity bridge loan, the proceeds of which will be used to fund GSRP’s equity contribution into Project Slate.

“Together, these transactions finance debt and equity costs for Project Slate demonstrate our ability to service our key clients with financing products across the capital stack,” says Nasir Khan, head of infrastructure abd energy finance for the Americas at Natixis. “Natixis is committed to financing clean energy projects and accelerating our energy transition.”

The Project Slate debt construction financing marks Natixis’ second solar plus storage financing in the Americas in as many months and comes on the back of Clearway’s $285 million financing for its Mililani I and Waiawa Solar Plus Storage facilities in Hawaii in May 2021, where Natixis acted as coordinating lead arranger. Those transactions are among the 26 Infrastructure Finance transactions Natixis has closed in the Americas in the first half of 2021.

The post Natixis Coordinates Slate Solar Plus Storage Project’s Financings appeared first on Solar Industry.

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