Kirkland Advises Intersect Power on Up to $800 Million Revolving Credit Facility

Kirkland & Ellis advised Intersect Power in obtaining an up to $800 million revolving credit facility to support the development, construction and operation of Intersect’s next wave of renewables, energy storage and green hydrogen projects.

The credit facility was arranged by Deutsche Bank AG, Nomura Securities International and Santander Corporate & Investment Banking (CIB) as Coordinating Lead Arrangers and Joint Bookrunners. Santander CIB acted as Green Structuring Agent and Administrative Agent. Additional banks participating in the facility include Joint Lead Arrangers, First Citizens Bank and HSBC, as well as participating lender Celtic Bank Corporation.

Intersect Power is a clean energy company bringing innovative and scalable low-carbon solutions to its global customers. The company develops some of the world’s largest clean energy resources providing low-carbon electricity, fuels and related products to its customers. Intersect Power has a base portfolio of 2.2 GW of solar PV and 1.4 GWh of co-located storage that is in operation or commissioning. The company’s business plan includes growth in grid-tied renewables, as well as large-scale clean energy assets such as green hydrogen. This financing follows $1 billion in growth equity investment from TPG Rise Climate, CAI Investments and Trilantic Energy Partners North America.

Read Intersect’s press release

The Kirkland team was led by debt finance partners Rohit Chaudhry, Kelann Stirling and Leila Ravi, along with tax partner Mike Masri.