Terra-Gen Valley Center BESS Portfolio
|Deal Type||Debt Capital Markets|
Senior Secured Credit Facilities
|Client & Transactional Partners||Terra-Gen||Our Role||
Joint Lead Arranger
On March 19, 2021, KeyBanc Capital Markets (“KBCM”) successfully closed $156 million of Senior Secured Credit Facilities (the “Facilities”) for Terra-Gen’s Valley Center BESS Portfolio (“Valley Center” or the “Portfolio”). The Facilities consist of a $140 million Construction-to-Term Loan and an aggregate $16 million of Letters of Credit. Proceeds will be used to fund construction costs of the Portfolio. KBCM acted as Joint Lead Arranger, Joint Bookrunner, Syndication Agent and Issuing Bank.
Valley Center consists of two stand-alone battery energy storage systems (“BESS”) with a total capacity of 139 MW / 416 MWh located in Valley Center, California.