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- Leeward Renewable Energy Closes $1.25 Billion Construction Warehouse Facility
Leeward Renewable Energy Closes $1.25 Billion Construction Warehouse Facility
Slice of Energy Team
July 17, 2024
Key Highlights:
$1.25 billion facility to fund renewable energy projects.
Supports construction of six wind, solar, and battery projects totaling nearly 1 GW.
Three-year committed capital for multi-year build plan.
Leeward Renewable Energy has over 3 GW operating and 30 GW in development.
Source (Business Wire)
Notable Quotes:
"LRE has experienced tremendous growth, and this financing arrangement supports our momentum by funding the construction of renewable energy projects in our development pipeline over the next three years."
"Wells Fargo is pleased to support LRE and provide the company with capital to help scale and support its growing renewable energy platform."
Our Take:
Leeward Renewable Energy's successful closure of a $1.25 billion construction warehouse facility marks a pivotal step in accelerating the development of renewable energy projects in the United States. This significant influx of capital will not only bolster LRE's capacity to construct nearly 1 GW of wind, solar, and battery storage projects but also demonstrates the confidence and commitment of leading financial institutions in advancing clean energy solutions. As LRE continues to expand its robust pipeline of over 30 GW, this strategic financing will be instrumental in meeting the rising demand for sustainable energy and reinforcing the company's position as a leader in the renewable energy sector.