Scout Clean Energy Closes $250mm Revolving Credit Facility
FOR IMMEDIATE RELEASE
CONTACT: Chad Thompson
901-331-0779
Scout Clean Energy Closes $250mm Revolving Credit Facility
Plans for Accelerated Growth
Boulder, CO – March 17, 2022 – Scout Clean Energy (“Scout”), a Colorado based renewable energy developer, owner, and operator, is pleased to announce the closing of a $250 million revolving corporate credit facility (“facility”). The facility will primarily be used to fund pre-construction development and equipment expenses, PPA security requirements and other corporate expenses for Scout’s rapidly growing pipeline of wind, solar and storage projects. Scout is a portfolio company of Quinbrook Infrastructure Partners.
KeyBanc Capital Markets is acting as Mandated Lead Arranger. The facility also offers an accordion feature which provides Scout with the potential flexibility to pursue additional opportunities in a highly dynamic market.
“Scout is excited to strengthen our existing relationship with KeyBanc Capital Markets who has consistently supported Scout’s growth over many years,” explained Michael Rucker, founder and CEO of Scout. “With this new credit facility, we plan to aggressively push Scout’s growth pipeline in wind, solar and battery storage encompassing over 12,000 megawatts of planned renewable energy build across 21 states.”
“This transaction further cements our relationship with Scout Clean Energy,” proclaimed Aaron Klein,
Managing Director, KeyBanc Capital Markets. “The issuance of the corporate credit facility demonstrates our confidence in Scout’s ability to manage its existing operating portfolio and successfully execute on its growth plan over the coming years.”
Scout has over 12,000 MWdc in active development and more than 1,200 MWdc of renewable projects in operation in PJM, CAISO, ERCOT and SPP. Scout offers round the clock renewable production with wind, solar PV, and battery storage spanning most major US markets.
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About Scout Clean Energy
Scout Clean Energy (www.scoutcleanenergy.com) is a renewable energy developer, owner-operator headquartered in Boulder, Colorado with over 1,200 MW of operating assets. Scout is actively developing a portfolio of over 12,000 MW of onshore wind, solar PV, and battery storage projects across 21 US states. Scout has expertise in all aspects of renewables project development, permitting, power marketing, finance, construction, 24/7 operations, and asset management. Scout is a portfolio company of Quinbrook Infrastructure Partners.
About KeyBanc Capital Markets
KeyBanc Capital Markets is a leading corporate and investment bank providing capital markets and advisory solutions to dynamic companies capitalizing on opportunities in changing industries. Our deep industry expertise, broad capabilities and unique ideas are seamlessly delivered to companies across the Consumer & Retail, Diversified Industries, Healthcare, Industrial, Oil & Gas, Real Estate, Utilities, Power & Renewables, and Technology verticals. With over 800 professionals across a national platform, KeyBanc Capital Markets has more than $40 billion of capital committed to clients and an award-winning Equity Research team that provides coverage on nearly 700 publicly-traded companies. Securities products and services are offered by KeyBanc Capital Markets Inc. and its licensed securities representatives, who may also be employees of KeyBank N.A. Banking products and services, are offered by KeyBank N.A.
About Quinbrook Infrastructure Partners
Quinbrook Infrastructure Partners (http://www.quinbrook.com) is a specialist investment manager focused exclusively on renewables, storage and grid support infrastructure and operational asset management in the US, UK, and Australia. Quinbrook is led and managed by a senior team of power industry professionals who have collectively invested c.USD 8.2 billion equity in energy infrastructure assets since the early 1990s, representing a total enterprise value of c.USD 28.7 billion or 19.5 GW of power supply capacity. Quinbrook has completed a diverse range of direct investments in both utility and distributed scale onshore wind and solar power, battery storage, reserve peaking capacity, biomass, fugitive methane recovery, hydro and flexible energy management solutions in the US, UK, and Australia.
