May 22, 2024
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Scout Clean Energy Closes $100 Million Equipment Supply Loan

Image taken from Scout Clean Energy website

Scout Clean Energy, a Colorado-based renewable energy developer, owner, and operator, is pleased to announce the closing of a $100 million equipment supply loan (ESL) with Rabobank. The facility will be used to fund Scout equipment down payments. Scout is a portfolio company managed by Brookfield Asset Management, a global leader of renewable power and decarbonization solutions.

Scout intends to upsize the facility to $200 million and bring in additional banks later in the year to continue to secure equipment supply for Scout’s near-term advanced stage pipeline of wind, solar and storage projects.

Image taken from Scout Clean Energy and Rabobank websites

“This financing marks the continued maturation of Scout Clean Energy as a leading fully integrated renewables IPP,” said John Clapp, Chief Financial Officer at Scout Clean Energy.

Expanding the credit facilities is an important part of Scout’s overall strategy to reduce the cost of capital, allowing Scout to be as competitive as possible in the market and provide them with the financial flexibility to meet the development needs as they grow with the pipeline.

Image taken from Scout Clean Energy website

“Rabobank is pleased to finance Scout’s renewable energy equipment supply,” said Claus Hertel, managing director of project finance at Rabobank Wholesale Banking North America. “This facility will accelerate its robust growth momentum and secure valuable equipment for its pipeline in wind, solar and storage. It is a testament to the strong relationship we have built with Scout since its inception and our steadfast commitment to banking the energy transition.”

“Scout is excited to strengthen our existing relationship with Rabobank who has consistently supported Scout’s growth over many years,” explained Clapp. “With this new credit facility, we plan to aggressively push Scout’s growth pipeline in wind, solar and battery storage encompassing over 19,000 megawatts of planned renewable energy build across 22 states.”

Source

Interested to read similar news in our past stories? Then you can visit these web pages:

Cargill Committs USD2.1 million to Water.org for its Safe Water and Sanitation Program

SDF to fund USD 100 million to develop Argentina’s Potable Water Project

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