Vesper Energy, a developer, owner and operator of utility-scale renewable energy assets, has upsized its existing letter of credit (LC) facility from $140 million to $200 million.
The upsizing, which follows the recent tax equity closures and debt financing of Vesper Energy's Nestlewood and Gaucho solar energy facilities, provides Vesper Energy with financial security to advance development of critical solar projects.
Vesper Energy upsized its LC facility with the support of experienced lenders in the industry, including Macquarie Group, Helaba (Landesbank Hessen-Thüringen) and ICBC Standard Bank.
“We are honored to work with these leading organizations as we advance Vesper Energy's mission to build a cleaner energy future through a better renewable energy infrastructure,” said Craig Carson, CEO of Vesper Energy. “This upsizing will help us bring projects to life in key markets, supporting communities and partners with clean, reliable energy.”