Treaty Oak Clean Energy Secures $300 Million Credit Facility to Accelerate U.S. Renewables Buildout
Treaty Oak Clean Energy, LLC (“Treaty Oak”), a U.S.-based independent power producer (IPP), has successfully closed a $300 million senior secured corporate credit facility aimed at accelerating its rapidly growing portfolio of renewable energy projects.This capital infusion will support the company’s strategic pipeline of 17.3 gigawatts (GW) of utility-scale solar, wind, and battery energy storage system (BESS) projects across major U.S. power markets.
The financing was led by ING Capital LLC, Nomura Corporate Funding Americas, LLC, and Sumitomo Mitsui Banking Corporation (SMBC), who served as Coordinating Lead Arrangers. ING acted as the Green Loan Agent, and Nomura took the role of Administrative Agent. PEI Global Partners was the exclusive financial advisor to Treaty Oak, while legal counsel included Latham & Watkins LLP for the borrower and Norton Rose Fulbright US LLP for the lenders.
“This Facility strategically positions us to accelerate our buildout of important renewable projects in the U.S. and opportunistically approach a market that is experiencing significant regulatory change,” stated Chris Elrod, Chief Executive Officer of Treaty Oak. “This financing reflects strong lender confidence in our business model and management team and gives us a competitive advantage.”
Proceeds from the Facility will fund a range of corporate and project-specific needs, including interconnection and offtake letters of credit, procurement of critical equipment, and general corporate purposes. These funds will directly enable Treaty Oak to advance its development pipeline and support construction activity in multiple regions.
Sky Fabian, Partner at PEI Global Partners, added, “This transaction highlights the strength and capabilities of the Treaty Oak platform, supported by a syndicate of top-tier global lenders. We are pleased to work alongside the Company to secure a highly accretive credit facility that will enable the Company’s commercialization of the next wave of clean energy development projects across the U.S.”
Treaty Oak’s current portfolio includes 17.3 GW of utility-scale renewable energy projects spread across key U.S. electricity markets. The portfolio is backed by a tailored offtake strategy, enabling long-term power purchase agreements (PPAs) with credible counterparties. To date, the company has executed or entered exclusivity agreements for 485 megawatts (MW) of clean energy and is actively negotiating PPAs for over 1 GW of additional capacity.
Construction milestones are already underway. In 2024, Treaty Oak began development of the 100 MW Redfield solar project in Arkansas. Looking ahead, the company plans to break ground on an additional 385 MW of solar projects in Louisiana in 2025.
As Treaty Oak continues to expand its clean energy footprint, the $300 million credit facility will play a critical role in enabling the company to meet rising demand for sustainable power generation in the U.S., supporting both energy transition goals and long-term commercial success.
