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KeyBanc Capital Markets Arranges $250MM Revolving Credit Facility for Scout Clean Energy

March 18, 2022, 07:55 AM
Filed Under: Energy

Scout Clean Energy, a Colorado based renewable energy developer, owner, and operator, closed a $250 million revolving corporate credit 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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