Kimber: 'This deal is one of the largest of its kind ever done in the clean energy sector'

Intersect Power has closed on a revolving corporate credit facility valued at up to $800 million to support its growth in clean energy, a company press release said.

“This deal is one of the largest of its kind ever done in the clean energy sector,” said Intersect Power CEO Sheldon Kimber in the release. “It allows Intersect to bring gigawatts of clean energy online across solar, wind, and green hydrogen technologies and further demonstrates that growth is not only possible in infrastructure but inevitable as the climate crisis requires a complete rebuild of our entire energy and industrial infrastructure.”

The Houston-based company will use money received from the credit facility to fund Intersect's next round of renewable energy projects. Deutsche Bank AG, Nomura Securities International, and Santander Corporate & Investment Banking have all served as coordinating lead arrangers and joint bookrunners for this facility, the press release said.

Nuno Andrade, Santander's head of global debt financing US, said Santander is "proud to extend our ongoing support for Intersect with this strategic and innovative financing that will allow the company to continue delivering high-quality large-scale renewable energy projects while complementing such projects with green molecule investments that should enable the deep decarbonization of our economy,” the press release said.

"This financing will help facilitate Intersect’s important contribution to the decarbonization of the U.S. power grid and evidences Deutsche Bank’s continued commitment to support the premier developers in the sector," Jeremy Eisman, head of infrastructure and energy financing at Deutsche Bank, said in the release.

Alain Halimi, Nomura's IPB managing director, said his company was "delighted to have supported Intersect on this milestone transaction and look forward to partnering further with Intersect as they expand their portfolios," the release said.