Natixis Corporate & Investment Banking leads $1.27Bn construction financing of four renewable energy projects for Invenergy
Natixis Corporate and Investment Banking (Natixis CIB) has successfully secured financing for a suite of Invenergy’s renewable energy projects in Kansas and Texas, encompassing a total capacity of 677 MW. This initiative includes four key projects:
- Diversion: A 200 MW wind farm in Baylor and Wilbarger Counties, Texas.
- Flat Ridge IV: A 135 MW wind project in Harper and Kingsman Counties, Kansas.
- Flat Ridge V: A 153 MW wind project, also in Harper and Kingsman Counties, Kansas.
- Pixley: A 189 MW solar project in Barber County, Kansas.
These projects are in the construction phase. Upon commencement of commercial operations, American Electric Power (AEP) subsidiaries, namely Southwestern Electric Power Company (SWEPCO) and Public Service Company of Oklahoma (PSO), will acquire ownership. SWEPCO is set to purchase Diversion, anticipated to start operations in the fourth quarter of 2024, while PSO will acquire Pixley, Flat Ridge IV, and Flat Ridge V, expected to be operational in the first quarter of 2025. The acquisition of these projects by SWEPCO and PSO aims to address their capacity needs and offer an economically viable solution for customers.
In this transaction, Natixis CIB undertook multiple roles including Joint Lead Arranger, Co-Green Loan Coordinator, and Joint Bookrunner. It was also the exclusive Documentation Agent and Administrative Agent for all four financing agreements.
Brian Bortman, Senior Vice President of Finance & Capital Markets at Invenergy, expressed gratitude for Natixis CIB’s continued trust in Invenergy’s development expertise. He emphasized the importance of these clean energy projects for AEP and the region’s customers.
James Kaiser, Managing Director and Head of North America Infrastructure & Energy Finance at Natixis CIB, highlighted the bank’s commitment to fostering the energy transition and supporting clients like Invenergy in their endeavors to meet capacity demands and aid in decarbonizing the grid.
About Natixis Corporate & Investment Banking: As a global financial powerhouse, Natixis CIB offers a wide range of services including advisory, investment banking, financing, corporate banking, and capital markets services. Serving a diverse clientele of corporations, financial institutions, sponsors, and sovereign organizations worldwide, Natixis CIB is devoted to strategic client growth, transformation, and sustainable impact. Committed to carbon neutrality by 2050, the bank advises clients in about 30 countries, focusing on reducing environmental impacts. As part of Groupe BPCE, Natixis CIB enjoys strong financial backing and holds high credit ratings (Standard & Poor’s: A, Moody’s: A1, Fitch: A+, R&I: A+).
