MN8 Energy LLC, one of the largest independent renewable energy platforms in the United States, announced the successful closing of its $575 million Senior Secured Notes offering. Natixis Corporate & Investment Banking (“Natixis CIB”) served as Lead Placement Agent, Ratings Advisor, and Green Issuance Coordinator for the transaction.
The notes are secured by a diverse portfolio-MN8 Portfolio IV-which includes 972 MW of distributed generation and utility-scale photovoltaic (PV) solar assets, as well as a 75 MW / 4-hour Battery Energy Storage System (BESS). This mix reinforces MN8‘s commitment to delivering clean, reliable energy through advanced, flexible infrastructure.
Strategic Use of Proceeds to Fuel Sustainable Growth
Proceeds from the offering will be used to repay existing project-level debt and to fund a strategic distribution that will be reinvested across MN8’s broader renewable energy portfolio. The transaction has been structured with delayed funding tranches tied to project milestone completions, optimizing capital efficiency. Combined with tax equity contributions, these tranches will facilitate the full refinancing of MN8’s $612 million construction bridge facility, originally closed in December 2024 for three large-scale solar projects totaling 517 MW.
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Additionally, the master indenture structure enables future issuances in 2026 and 2027, aligning with the Company’s pipeline of development-stage assets expected to come online in the coming years.
Executive Commentary
“This $575 million financing supports MN8’s growth trajectory and underscores the strength of our diversified renewable energy platform,” said David Callen, CFO of MN8 Energy. “We’re grateful to have Natixis and all our financing partners for their support on this transaction. Natixis’ deep project finance expertise and their significant debt underwriting capabilities made them an ideal choice to lead this complex transaction. This financing provides us with the flexibility we need to efficiently fund our robust pipeline as we continue scaling our business.”
“We are proud to have worked once again with MN8 on another landmark renewables deal,” said Anthony Ferraro, Natixis CIB Co-head of DCM, Americas. “This successful collaboration highlights the strength of our partnership with MN8 as well as Natixis CIB’s market leading infrastructure finance franchise with comprehensive solutions across project finance, rate hedging and debt capital mark.