Swift Current Energy has closed a $750 million corporate credit facility featuring an accordion option to expand total capacity up to $1 billion. The financing significantly scales the company’s capital reserves, positioning it to accelerate the deployment of utility-scale clean energy projects and support rising electricity demand across the United States.
This transaction was headed by Crédit Agricole CIB as Administrative Agent & Coordinating Lead Arranger, ING Capital, and Truist Securities. On the other hand, KeyBank National was the Collateral Agent & Joint Lead Arranger along with Banco Bilbao Vizcaya Argentaria (BBVA), MUFG Bank, Royal Bank of Canada, and Wells Fargo Bank. Crédit Agricole CIB and ING Capital were both Green Loan Structuring Agents.
Dual-Tranche Architecture Built for Scalable Growth
Structured with a three-year term, the dual-tranche credit facility offers flexible liquidity and letter of credit capacity. This flexible capital structure supports Swift Current‘s end-to-end operational strategy, extending from project development and commercialization to long-term asset ownership.
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Founded in 2016, Swift Current has commercialized 5 gigawatts (GW) of clean energy assets, operates more than 1 GW of generation, and maintains an active development pipeline exceeding 10 GW nationwide.
Leadership and Market Perspectives
“The scale of this facility reflects both the strength of the portfolio Swift Current has built and the opportunity ahead of us. Electricity demand is growing rapidly across the United States and meeting that demand will require significant investment in new energy infrastructure. This financing gives our team additional flexibility to advance our platform, invest in high-quality projects, and bring new energy resources online quickly and efficiently,” said Michael Arndt, Chief Executive Officer of Swift Current.
“Swift Current has established an impressive track record of developing and operating large-scale energy projects across the United States. Crédit Agricole CIB is pleased to lead this financing and deepen our relationship with Swift Current as the company continues to grow its platform and advance projects that will help meet increasing U.S. energy demand,” said Julien Tizorin, Head of Power and New Energy, Americas at Crédit Agricole CIB.
“This transaction reflects the continued maturation of the renewable energy sector, where scaled platforms increasingly require flexible corporate capital alongside project-level financing. Swift Current has built a diversified development and operating platform, and ING is pleased to continue our partnership as the company executes on its next phase of growth,” added Sven Wellock, Head of Renewables and Power, Energy, Americas at ING Capital.
“Truist is proud to support Swift Current Energy in refinancing its corporate facility, enabling the company to scale its platform efficiently and execute on its growth strategy,” stated Josh Dale, Managing Director of Project Finance Origination at Truist Securities.
