Today, Swift Current Energy announced an increase in its revolving credit facility from $225 million to $312.5 million. This expanded credit facility, designated as a Green Loan, will now mature in 2026. The financing is supported by a consortium of lenders including National Australia Bank, Natixis, First Citizens Bank, KeyBank, Mitsubishi UFJ Financial Group (MUFG), and Canadian Imperial Bank of Commerce (CIBC). KeyBanc Capital Markets acted as the coordinating lead arranger, with CIBC serving as the green structuring agent.
Swift Current Energy has a robust pipeline of more than 10 gigawatts (GW) of wind, solar, and battery energy storage projects across premium markets. In 2023, the company completed construction financing for over 1,000 megawatts (MWac) of solar projects, including the 593 MWac Double Black Diamond solar project in Illinois, and successfully brought its 197 MWac Castle Gap wind project into commercial operations. Since its inception in 2016, Swift Current has commercialized more than 2.5 GW of clean energy projects.
Eric Lammers, CEO and Co-Founder of Swift Current, expressed enthusiasm about the expanded credit facility, stating, “Swift Current Energy is trailblazing a path for clean energy. This expanded credit facility will support the sustainable growth of our project pipeline and the execution of our advanced development projects.”
Michael Hotchkiss, Managing Director at KeyBanc Capital Markets, emphasized the company’s impressive growth within the renewable energy sector and expressed satisfaction in continuing the relationship with Swift Current Energy.
Legal representation for Swift Current was provided by Sidley Austin, while Norton Rose Fulbright advised KeyBanc and CIBC.
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