Clean Energy Fuels Corp. has entered into a six-year $300 million senior secured term loan with Stonepeak.
The credit agreement also provides for a two-year delayed draw term loan commitment of an additional $100 million.
In addition to repaying existing loans, the financing from Stonepeak will provide Clean Energy with capital for new renewable natural gas (RNG) production facilities, as well as the expansion of the company’s fueling infrastructure targeting the heavy-duty truck market. Clean Energy currently provides RNG to hundreds of fleets every day in the form of compressed natural gas (CNG) and liquified natural gas (LNG), which enables them to decarbonize their large vehicles easily and affordably.
“Stonepeak is one of the most well-respected infrastructure investment firms operating in the energy transition space, and we’re excited to partner with them as we grow our RNG business,” said Clay Corbus, senior vice president for strategic developmen
