MACQUARIE GROUP LIMITED (ASX:MQG)'s Macquarie Asset Management has provided US$350 million in long-term financing to United States-based solar and battery project developer Nexamp, supporting the rollout of utility-scale renewable energy assets.
The financing will help fund the construction of Nexamp’s 6 gigawatt pipeline of solar and battery storage projects, which underpin the company’s expansion in the utility-scale market following its 2021 entry into the sector. Backed by three equity sponsors, Nexamp is positioning itself as a leading participant in the renewable energy transition.
Harlan Cherniak, head of Americas infrastructure debt at Macquarie Asset Management, said: “We are looking forward to the expansion of our partnership with the Nexamp team as they embark on the next chapter of strategic growth. Through this US$350 million facility, we will continue to solidify our Credit & Insurance division as a global leader in the infrastructure and asset-based credit market.”
Macquarie Asset Management’s Credit & Insurance division manages approximately US$222 billion in assets.