Agilitas Energy secures $100m in debt financing to fuel expansion and renewable energy projects
Agilitas Energy, a leader in the development, construction, and operation of distributed energy storage and solar photovoltaic (PV) systems in the northeastern U.S., has successfully closed a $100 million debt financing deal. This funding, which has the potential to be upsized to $200 million upon completion of certain projects, was orchestrated by Nomura Securities International, Inc., serving as the sole bookrunner and lead arranger, with Nomura Corporate Funding Americas, LLC acting as the administrative agent. This financing represents a significant step for Agilitas Energy as it seeks to accelerate its growth and expand its national footprint.
The secured financing is earmarked for a robust expansion plan that includes the construction of solar and energy storage projects totaling more than 250 megawatts (MW) over the next three years. Agilitas Energy is actively developing and constructing over one gigawatt (GW) of renewable energy and energy storage projects across the United States. The company’s strategy involves greenfield origination, acquisition, and forming strategic partnerships with high-quality developers to enhance its market presence.
The relationship with Nomura marks a new phase in Agilitas Energy’s financial strategy, indicating strong market confidence in its integrated project approach. Michael Slattery, Chief Financial Officer of Agilitas Energy, highlighted the significance of this partnership: “This debt financing and the beginning of our relationship with Nomura represents far more than the capital necessary for us to develop, build and operate the projects that Agilitas Energy has always excelled at. It signifies recognition and trust from a major multinational financial institution.”
Nomura has expressed satisfaction with its involvement in facilitating this strategic financing. Vinod Mukani, Global Head of Nomura’s Infrastructure & Power Business, emphasized the alignment of this transaction with Nomura’s core business strategy, which focuses on creating tailored financing solutions for top-tier developers. Alain Halimi, Managing Director at Nomura’s IPB, also reiterated the firm’s commitment to supporting Agilitas Energy’s rapid portfolio expansion across the U.S.
With the influx of new capital, Agilitas Energy plans to continue its aggressive growth strategy, developing and constructing solar, standalone storage, and hybrid projects throughout the country. These assets, once operational, will be jointly owned and operated by Agilitas Energy and AB CarVal’s joint venture, established in 2022. AB CarVal remains a strategic investor, backing Agilitas Energy’s ambitions to widen its reach and impact in the renewable energy market.
This financing not only underscores Agilitas Energy’s robust market position but also supports the broader goal of transitioning to sustainable energy solutions across the U.S. The initiative is expected to generate considerable economic benefits, including job creation and enhanced local tax revenues, contributing to the communities where these projects are deployed.