Scout Clean Energy, a Colorado-based renewable energy developer, owner and operator, has established a $50 million letter of credit facility following the completion of its fourth utility-scale wind project.
The facility will be used to support both existing and upcoming security requirements associated with new project interconnections and power-purchase agreements for Scout's growing pipeline of renewable energy projects. The corporate credit facility also offers the ability to upsize to $85 million in the future.
“Scout is proud to be building upon our existing relationship with Key and Rabobank who have strongly supported Scout's growth to date, and we are excited to now bring in Wells Fargo alongside them as a new lending partner,” said Michael Rucker, CEO of Scout. “This new credit facility will help accelerate Scout Clean Energy’s growth pipeline in wind, solar and battery storage diversified across 13 states.”
Scout has more 4,000 megawatts in
