New Energy Solar; NES Orion HoldCo Portfolio
|Deal Type||Debt Capital Markets|
Senior Secured Credit Facilities
|Client & Transactional Partners||
New Energy Solar
NES Orion HoldCo Portfolio
Sole Lead Arranger
On February 15, 2019, KeyBanc Capital Markets Inc. (“KBCM”) successfully closed $24.7 million of Senior Secured Credit Facilities for NES Orion HoldCo (the “Portfolio”), owned by New Energy Solar (“NES”). KBCM acted as Sole Lead Arranger, Sole Bookrunner, Administrative Agent, Collateral Agent and Depositary Bank.
The Portfolio is a 55.5 MWDC solar portfolio of eight utility-scale projects. Six of these projects are located in North Carolina and two are located in Oregon. The Portfolio is contracted through various long-term power purchase agreements with Duke Energy Progress, Duke Energy Carolinas and PacifiCorp.
New Energy Solar (“NES”) was established in November 2015 as Australia’s first solar energy focused fund. NES was founded with the objective of helping investors generate positive social impact alongside attractive financial returns through the combination of distributions from operating solar assets with growth through new acquisitions. The entire NES portfolio comprises 20 solar assets wholly or partly owned by NES across the United States, totaling 680 MWDC, as of November 2018.