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TerraForm Power Increases Facility to $650MM With JPMorgan, Santander

May 04, 2015, 07:26 AM
Filed Under: Energy

TerraForm Power, a global owner and operator of clean energy power plants,announced it has increased total commitments to the five-year revolving credit facility of its wholly-owned subsidiary TerraForm Power Operating, LLC by $100 million to $650 million in the aggregate.

The $100 million in incremental commitments was provided by JPMorgan Chase Bank, N.A. and Santander Bank, N.A. The Revolver was previously upsized to $550 million and extended to January 2020 in January 2015. The company's bank group now consists of ten leading financial institutions.   

"We are pleased to welcome J.P. Morgan and Santander to our bank group, and to have further increased our revolving credit facility," said Alex Hernandez, Executive Vice President and Chief Financial Officer of TerraForm Power. "This will further enhance TerraForm's already strong liquidity position and give us additional financial flexibility to execute on our growth plans in the years ahead."

TerraForm is a renewable energy leader that is changing how energy is generated, distributed and owned. TerraForm creates value for its investors by owning and operating clean energy power plants.

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