The Financing will Provide Significant Support and Accelerate the Development of the Company’s Strong Renewable Pipeline

AUSTIN, Texas–(BUSINESS WIRE)–Treaty Oak Clean Energy, LLC (“Treaty Oak” or the “Company”), a US independent power producer (“IPP”), today announced the successful close of a $300 million senior secured corporate credit facility (the “Facility”). The Facility will significantly enhance Treaty Oak’s rapidly expanding renewable energy project pipeline, which includes utility-scale solar, wind, and battery energy storage assets (“BESS”).

The Facility was led by ING Capital LLC (“ING”), Nomura Corporate Funding Americas, LLC (“Nomura”), and Sumitomo Mitsui Banking Corporation (“SMBC”), serving as Coordinating Lead Arrangers. ING served as the Green Loan Agent, while Nomura served as Administrative Agent for the transaction. PEI Global Partners served as Exclusive Financial Advisor to Treaty Oak. Latham & Watkins LLP acted as Borrower’s Counsel, and Norton Rose Fullbright US LLP served as Lenders’ Counsel.

“This Facility strategically positions us to accelerate our buildout of important renewable projects in the US and opportunistically approach a market that is experiencing significant regulatory change,” said Chris Elrod, Treaty Oak’s Chief Executive Officer. “This financing reflects strong lender confidence in our business model and management team and gives us a competitive advantage.”

Proceeds from the Facility will directly support Treaty Oak’s strategic growth objectives, providing essential capital for interconnection and offtake letters of credit, equipment procurement, and general corporate expenses to advance Treaty Oak’s 17.3 GW solar, wind, and battery storage pipeline.

“This transaction highlights the strength and capabilities of the Treaty Oak platform, supported by a syndicate of top-tier global lenders,” said Sky Fabian, Partner at PEI Global Partners. “We are pleased to work alongside the Company to secure a highly accretive credit facility that will enable the Company’s commercialization of the next wave of clean energy development projects across the US.”

Treaty Oak’s pipeline includes 17.3 GW of utility-scale solar, wind, and BESS projects diversified across the major power markets within the United States. The Company’s bespoke offtake strategy and deep relationships with reputable offtakers has enabled the portfolio of renewable projects to secure attractive, long-term power purchase agreements – to date 485 MW of projects have executed offtake or are under exclusivity with an additional 1+ GW actively under negotiation. The Company started construction on the 100 MW Redfield solar project located in Arkansas in 2024 and will break ground on an additional 385 MW of solar projects located in Louisiana in 2025.

About Treaty Oak Clean Energy

Headquartered in Austin, Texas, Treaty Oak develops, builds, and operates clean energy projects in targeted US markets. ​We work with consumers and communities to create reliable, cost-effective energy solutions benefiting generations to come. Treaty Oak is a Macquarie Asset Management portfolio company, operating on a stand-alone basis. More information on Treaty Oak is available at treatyoakcleanenergy.com.

About Macquarie Asset Management

Macquarie Asset Management is a global asset manager, integrated across public and private markets. Trusted by institutions, governments, foundations and individuals to manage approximately $US588.1 billion in assets, Macquarie Asset Management provides a diverse range of investment solutions including real assets, real estate, credit and equities & multi-asset. As the world’s largest infrastructure manager, Macquarie Asset Management leverages the strength of a global platform, track record and strategic relationships to create value for partners and those whose savings Macquarie Asset Management is trusted to manage. With a portfolio that spans more than 170 companies and 105GW+ of green energy assets in construction, operations or development, Macquarie Asset Management’s investments underpin economies, communities and households, and are relied on by more than 280 million people every day.*

MAM Green Investments is a specialist green investor team within Macquarie Asset Management and a global leader in the development of companies, assets and technologies that aim to accelerate the global transition to net zero. The team manages a diverse range of green energy assets in over 25 markets, spanning established renewables and emerging green technologies. In 2020, Macquarie Asset Management founded Calibrant to deploy on-site energy solutions to North America’s largest power users.

Read more about Macquarie Asset Management at: www.macquarie.com/mam.

* All figures as of 31 March 2025.

About PEI Global Partners

PEI Global Partners Holdings LLC (“PEI”) is an independent, closely held investment bank with offices in New York City, Tampa and Hong Kong, specializing in the power, energy, and infrastructure sectors. PEI advises financial sponsors, developers and corporate clients on mergers and acquisitions, divestitures, financings, private placements, and other strategic transactions. For more information on PEI, please visit www.peigp.com

Contacts

Media Contacts:
Marshall Coover
marshall.coover@treatyoakcleanenergy.com
+1-512-496-0104

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