First Citizens Bank Serves as Co-Lead Arranger on $300 Million Credit Facility for Swift Current Energy
First Citizens Bank has announced its role as co-lead arranger on a $300 million senior secured credit facility for Swift Current Energy, a leading North American clean energy platform. This financing will provide flexible growth capital for Swift Current's ambitious plans to develop 10 GW of wind, solar, and energy storage projects, with a goal to own and operate 1 GW by year-end.
Swift Current's CEO, Eric Lammers, highlighted the company's contribution to grid stability and reliability while delivering competitive clean energy. Mike Lorusso, head of First Citizens' Energy Finance business, praised Swift Current's track record in renewable power project development. The Energy Finance unit of First Citizens Bank offers comprehensive financing solutions for both renewable and conventional power generation, managing a diverse portfolio across all energy sector asset classes.
First Citizens Bank ha annunciato il suo ruolo come co-lead arranger per un prestito senior garantito di 300 milioni di dollari per Swift Current Energy, una delle principali piattaforme di energia pulita in Nord America. Questo finanziamento fornirà capitale flessibile per la crescita dei piani ambiziosi di Swift Current per sviluppare 10 GW di progetti eolici, solari e di stoccaggio di energia, con l'obiettivo di possedere e gestire 1 GW entro la fine dell'anno.
Il CEO di Swift Current, Eric Lammers, ha sottolineato il contributo dell'azienda alla stabilità e affidabilità della rete, offrendo energia pulita competitiva. Mike Lorusso, responsabile del settore Energy Finance di First Citizens, ha elogiato il track record di Swift Current nello sviluppo di progetti di energia rinnovabile. L'unità di Energy Finance di First Citizens Bank offre soluzioni di finanziamento complete sia per la generazione di energia rinnovabile che convenzionale, gestendo un portafoglio diversificato in tutte le classi di attivi del settore energetico.
First Citizens Bank ha anunciado su papel como co-lider en la organización de un crédito senior garantizado de 300 millones de dólares para Swift Current Energy, una de las principales plataformas de energía limpia en América del Norte. Este financiamiento proporcionará capital flexible para el crecimiento de los ambiciosos planes de Swift Current para desarrollar 10 GW de proyectos de energía eólica, solar y de almacenamiento, con el objetivo de poseer y operar 1 GW para fin de año.
El CEO de Swift Current, Eric Lammers, destacó la contribución de la empresa a la estabilidad y confiabilidad de la red, mientras proporciona energía limpia competitiva. Mike Lorusso, jefe de la unidad de Finanzas Energéticas de First Citizens, elogió el historial de Swift Current en el desarrollo de proyectos de energía renovable. La unidad de Finanzas Energéticas del First Citizens Bank ofrece soluciones integrales de financiamiento tanto para la generación de energía renovable como convencional, gestionando un portafolio diverso en todas las clases de activos del sector energético.
퍼스트 시티즌스 은행은 스위프트 커런트 에너지의 3억 달러 규모의 선순위 담보 대출에 대한 공동 주선자로서의 역할을 발표했습니다. 스위프트 커런트의 야심찬 계획을 위한 유연한 성장 자본을 제공할 이 자금은 10 GW의 풍력, 태양광 및 에너지 저장 프로젝트를 개발하는 데 사용될 예정이며, 연말까지 1 GW를 소유하고 운영하는 것을 목표로 하고 있습니다.
스위프트 커런트의 CEO인 에릭 람머스는 경쟁력 있는 청정 에너지를 제공하면서 전력망의 안정성과 신뢰성에 대한 회사의 기여를 강조했습니다. 퍼스트 시티즌스의 에너지 금융 부서 책임자인 마이크 로루소는 재생 에너지 프로젝트 개발에서 스위프트 커런트의 실적을 칭찬했습니다. 퍼스트 시티즌스 은행의 에너지 금융 유닛은 재생 가능 및 기존 전력 생성을 위한 포괄적인 금융 솔루션을 제공하며, 모든 에너지 부문 자산 클래스에서 다양한 포트폴리오를 관리하고 있습니다.
First Citizens Bank a annoncé son rôle d'arrangeur principal co-leader pour un financement senior garanti de 300 millions de dollars destiné à Swift Current Energy, une plateforme leader en énergie propre en Amérique du Nord. Ce financement fournira un capital de croissance flexible pour les projets ambitieux de Swift Current visant à développer 10 GW de projets éoliens, solaires et de stockage d'énergie, avec comme objectif de posséder et d'exploiter 1 GW d'ici la fin de l'année.
Le PDG de Swift Current, Eric Lammers, a souligné la contribution de l'entreprise à la stabilité et à la fiabilité du réseau tout en fournissant une énergie propre compétitive. Mike Lorusso, responsable de l'unité Finance Énergétique de First Citizens, a salué le parcours de Swift Current dans le développement de projets d'énergie renouvelable. L'unité Finance Énergétique de First Citizens Bank propose des solutions de financement complètes tant pour la production d'énergie renouvelable que conventionnelle, gérant un portefeuille diversifié dans toutes les classes d'actifs du secteur de l'énergie.
Die First Citizens Bank hat ihre Rolle als Co-Lead Arranger für ein gesichertes Senior-Kreditengagement von 300 Millionen Dollar für Swift Current Energy, eine führende saubere Energieplattform in Nordamerika, bekannt gegeben. Diese Finanzierung wird flexibles Wachstumskapital für die ehrgeizigen Pläne von Swift Current zur Entwicklung von 10 GW Wind-, Solar- und Energiespeicherprojekten bereitstellen, mit dem Ziel, bis Ende des Jahres 1 GW zu besitzen und zu betreiben.
Der CEO von Swift Current, Eric Lammers, hob den Beitrag des Unternehmens zur Stabilität und Zuverlässigkeit des Stromnetzes hervor, während er wettbewerbsfähige saubere Energie bereitstellt. Mike Lorusso, Leiter des Energy Finance-Bereichs bei First Citizens, lobte die Erfolgsbilanz von Swift Current im Bereich der Entwicklung von Projekten mit erneuerbaren Energien. Die Einheit Energy Finance von First Citizens Bank bietet umfassende Finanzierungslösungen für sowohl erneuerbare als auch konventionelle Stromerzeugung an und verwaltet ein vielfältiges Portfolio in allen Klassen von Energieanlagen.
- First Citizens Bank secured a role as co-lead arranger for a $300 million credit facility
- The credit facility supports Swift Current Energy's development of 10 GW of renewable energy projects
- Swift Current Energy aims to own and operate 1 GW of renewable energy capacity by year-end
- The deal showcases First Citizens Bank's expertise in energy finance and renewable projects
- None.
Insights
This $300 million credit facility for Swift Current Energy is a significant development in the renewable energy sector. The financing provides flexible growth capital for Swift Current's ambitious 10 GW project pipeline, with a near-term goal of owning and operating 1 GW by year-end. This move indicates strong investor confidence in the company's growth strategy and the overall renewable energy market.
The involvement of First Citizens Bank as a co-lead arranger demonstrates the financial sector's increasing support for clean energy initiatives. This trend could potentially lead to more favorable financing terms for renewable energy projects in the future, further accelerating the sector's growth. Investors should note that such large-scale investments in renewable infrastructure could have long-term implications for energy markets and utility stocks.
Swift Current's aggressive expansion plans, backed by this substantial credit facility, signal a bullish outlook for the renewable energy sector. The company's focus on a diverse portfolio of wind, solar and energy storage projects aligns with the growing demand for clean energy solutions and grid stability. This diversification strategy could provide resilience against policy changes or technological shifts affecting specific renewable technologies.
The emphasis on grid stability and reliability in Swift Current's projects addresses a critical concern in the renewable energy transition. As the penetration of intermittent renewable sources increases, projects that contribute to grid stability could gain a competitive edge. This approach may lead to increased adoption of hybrid renewable systems and advanced energy storage solutions, potentially creating new opportunities for companies in these subsectors.
The financing will provide flexible growth capital as Swift Current pursues development of 10 GW gigawatts of wind, solar and energy storage projects in its pipeline, with plans to own and operate 1 GW by the end of year.
"Our utility-scale renewable power projects are continuing to contribute to grid stability and reliability while also delivering clean energy at competitive prices to consumers and businesses alike," said Eric Lammers, Chief Executive Officer and Co-Founder, Swift Current. "We appreciated the expertise of the First Citizens Energy team in helping arrange this important financing for our organization."
"Swift Current is well known within the industry for its proven track record of successful renewable power project development," said Mike Lorusso, who heads First Citizens' Energy Finance business. "We appreciated the opportunity to work closely with their team to develop a flexible financing package to help advance their growth agenda."
First Citizens Energy Finance leverages its deep industry knowledge and expertise to offer comprehensive financing solutions for renewable and conventional power generation. The unit manages a large, diverse portfolio that includes investments in all asset classes across the energy sector.
About Swift Current Energy
Swift Current Energy is trailblazing a path for clean energy now. Founded in 2016, the company develops, owns and operates highly competitive, utility-scale wind, solar and energy storage projects across
About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in
MEDIA RELATIONS:
John M. Moran
212-461-5507
john.moran2@firstcitizens.com
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SOURCE First Citizens Bank
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