Deriva Energy Completes Financing for Two Established Projects
Deriva Energy has secured a $127 million debt financing for two operational energy projects. The financing, provided by Principal Asset Management and MetLife Investment Management, covers the 207 MW Ledyard Wind facility in Iowa and the 250 MW Pisgah Ridge Solar facility in Texas. Both facilities, operational since 2022, have long-term power purchase agreements with corporate buyers.
The deal represents Deriva's second financing arrangement with these firms since Brookfield's acquisition of Deriva in October 2023, following a $207 million transaction in October 2024. The financing was completed despite market challenges related to tariffs and international trade policy uncertainties.
Deriva Energy ha ottenuto un finanziamento a debito di 127 milioni di dollari per due progetti energetici operativi. Il finanziamento, fornito da Principal Asset Management e MetLife Investment Management, copre l'impianto eolico Ledyard Wind da 207 MW in Iowa e l'impianto solare Pisgah Ridge Solar da 250 MW in Texas. Entrambi gli impianti, operativi dal 2022, dispongono di contratti di acquisto di energia a lungo termine con acquirenti aziendali.
L'accordo rappresenta il secondo finanziamento di Deriva con queste società dopo l'acquisizione di Deriva da parte di Brookfield nell'ottobre 2023, seguendo una transazione da 207 milioni di dollari nell'ottobre 2024. Il finanziamento è stato completato nonostante le difficoltà di mercato legate a tariffe e incertezze nella politica commerciale internazionale.
Deriva Energy ha asegurado un financiamiento de deuda de 127 millones de dólares para dos proyectos energéticos operativos. El financiamiento, proporcionado por Principal Asset Management y MetLife Investment Management, cubre la planta eólica Ledyard Wind de 207 MW en Iowa y la planta solar Pisgah Ridge Solar de 250 MW en Texas. Ambas instalaciones, operativas desde 2022, cuentan con contratos de compra de energía a largo plazo con compradores corporativos.
El acuerdo representa la segunda operación financiera de Deriva con estas firmas desde la adquisición de Deriva por parte de Brookfield en octubre de 2023, tras una transacción de 207 millones de dólares en octubre de 2024. El financiamiento se completó a pesar de los desafíos del mercado relacionados con aranceles e incertidumbres en la política comercial internacional.
Deriva Energy는 두 개의 운영 중인 에너지 프로젝트를 위해 1억 2700만 달러 규모의 부채 자금 조달을 확보했습니다. 이 자금 조달은 Principal Asset Management와 MetLife Investment Management가 제공했으며, 아이오와에 위치한 207MW Ledyard Wind 시설과 텍사스에 위치한 250MW Pisgah Ridge Solar 시설을 포함합니다. 두 시설 모두 2022년부터 운영 중이며, 기업 구매자와 장기 전력 구매 계약을 체결하고 있습니다.
이번 거래는 2023년 10월 Brookfield가 Deriva를 인수한 이후 이들 회사와 Deriva가 체결한 두 번째 자금 조달 계약으로, 2024년 10월에 체결된 2억 700만 달러 거래에 이은 것입니다. 관세 및 국제 무역 정책 불확실성과 관련된 시장의 어려움에도 불구하고 자금 조달이 완료되었습니다.
Deriva Energy a obtenu un financement par emprunt de 127 millions de dollars pour deux projets énergétiques opérationnels. Ce financement, fourni par Principal Asset Management et MetLife Investment Management, couvre l'installation éolienne Ledyard Wind de 207 MW dans l'Iowa et l'installation solaire Pisgah Ridge Solar de 250 MW au Texas. Les deux installations, en service depuis 2022, bénéficient de contrats d'achat d'électricité à long terme avec des acheteurs corporatifs.
Cette opération représente le deuxième accord de financement de Deriva avec ces entreprises depuis l'acquisition de Deriva par Brookfield en octobre 2023, après une transaction de 207 millions de dollars en octobre 2024. Le financement a été finalisé malgré les défis du marché liés aux tarifs douaniers et aux incertitudes de la politique commerciale internationale.
Deriva Energy hat eine Schuldenfinanzierung in Höhe von 127 Millionen US-Dollar für zwei betriebsbereite Energieprojekte gesichert. Die Finanzierung, bereitgestellt von Principal Asset Management und MetLife Investment Management, umfasst die 207 MW Ledyard Wind-Anlage in Iowa und die 250 MW Pisgah Ridge Solar-Anlage in Texas. Beide Anlagen sind seit 2022 in Betrieb und verfügen über langfristige Stromabnahmeverträge mit Unternehmenskunden.
Der Deal stellt die zweite Finanzierungsvereinbarung von Deriva mit diesen Unternehmen seit der Übernahme von Deriva durch Brookfield im Oktober 2023 dar, nach einer Transaktion über 207 Millionen US-Dollar im Oktober 2024. Die Finanzierung wurde trotz Herausforderungen auf dem Markt im Zusammenhang mit Zöllen und Unsicherheiten in der internationalen Handelspolitik abgeschlossen.
- Successfully secured $127 million in debt financing for two operational renewable energy assets
- Both projects (457 MW total capacity) are already operational and generating revenue since 2022
- Projects backed by long-term power purchase agreements with high-quality corporate purchasers
- Demonstrates continued strong relationship with major financial institutions (second financing deal)
- Financing completed during period of market turbulence and uncertainty over tariffs
- Increased debt load could impact company's financial flexibility
Insights
Deriva secured $127M debt financing for two established renewable assets with long-term PPAs, demonstrating financial strength amid market uncertainty.
Deriva Energy has successfully closed a
The financing structure utilizes Senior Secured Notes provided by Principal Asset Management and MetLife Investment Management, representing sophisticated institutional capital comfortable with the risk profile of these assets. The transaction timing is particularly noteworthy as it was executed during a period of significant market volatility stemming from uncertainty around tariffs and trade policies that have recently disrupted the renewable energy sector.
This marks the second debt financing arrangement between these parties since Brookfield's acquisition of Deriva in October 2023, following a
The successful financing demonstrates Deriva's effective capital markets execution capabilities and strategic importance within Brookfield's renewable energy portfolio. For institutional investors like Principal and MetLife, these investments align with their growing infrastructure debt allocations while providing exposure to operational assets with established cash flows rather than development-stage projects carrying greater execution risk.
Principal Asset ManagementSM and MetLife Investment Management provided Senior Secured Notes to the portfolio, which is comprised of two projects owned and operated by Deriva, Ledyard Wind and Pisgah Ridge Solar. Ledyard Wind is a 207 MW wind facility in
Thomas
Mansi Patel, Senior Managing Director and Head of Infrastructure Debt, for Principal Asset Management said: "We are thrilled to have led the structuring of this transaction, supporting Deriva's high-quality portfolio assets with a tailored financing solution. We are excited to continue to grow our firm's strong relationship."
This is the second debt financing arranged with Principal Asset Management and MetLife Investment Management since Brookfield's purchase of Deriva in October 2023; both firms invested in a
About Deriva Energy
Deriva Energy (formerly Duke Energy Renewables, LLC) is an established industry leader in clean energy, with over 6,200 megawatts of operating assets and over 10,500 MW of assets in development across the
About Principal Asset ManagementSM
With public and private market capabilities across all asset classes, Principal Asset Management and its investment specialists look at asset management through a different lens, creating solutions to help deliver client investment objectives. By applying local insights with global perspectives, Principal Asset Management identifies distinct and compelling investment opportunities for more than 1,100 institutional clients in over 80 markets. Principal Asset Management is the global investment solutions business for Principal Financial Group® (Nasdaq: PFG), managing
[1] As of December 31, 2024
[2] Pensions & Investments, "The Best Places to Work in Money Management", among companies with 1,000 or more employees, December 2024.
Contact: press@derivaenergy.com
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SOURCE Deriva Energy
FAQ
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