The three-year facility offers the company increased flexibility in cash management and letter of credit capacity as it navigates a national surge in electricity demand. Swift Current, which maintains a portfolio spanning solar, wind, and storage, intends to deploy these funds to accelerate the commercialization of its 10-gigawatt development pipeline. Since its inception in 2016, the firm has already brought 5 gigawatts of clean energy to market.
Chief Executive Officer Michael Arndt noted that the transaction validates the strength of the company’s existing assets and its capacity to meet the infrastructure requirements of the domestic energy market. The lending group includes several major financial institutions, such as Key Bank National, MUFG Bank, and the Royal Bank of Canada, with Crédit Agricole and ING acting as green loan structuring agents. Sidley Austin LLP provided legal counsel for the borrower, while Norton Rose Fulbright represented the lenders.
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