Natixis closes financing for 300 MW solar plus storage project in USA

Natixis announced the successful closing of two separate financings in support of the Project Slate, a solar plus storage project being constructed in Kings County, California.

Project Slate is owned by Goldman Sachs Renewable Power (GSRP), an investment company managed by the Renewable Power business within Goldman Sachs Asset Management. Upon construction completion, the Project will have a capacity of 300 MWac solar PV+140 MW/561 MWh Battery Storage, making it among the largest solar plus storage projects in the world.

Nasir Khan, Head of Infrastructure & Energy Finance for the Americas, said: “Together, these transactions finance debt and equity costs for the Slate Project, demonstrate our ability to service our key clients with financing products across the capital stack.”

In June 2021, Natixis acted as Administrative Agent and Joint Lead Arranger on US$515.9 million senior secured credit facilities to Project Slate. Earlier, Natixis acted as Sole Lead Arranger for a US$150 million Equity Bridge Loan, the proceeds of which will be used to fund GSRP’s equity contribution into Project Slate.