PureSky Energy Secures $150 Million Revolving Credit Facility

Denver, CO - November 14, 2023 - PureSky Energy, a leading developer, owner, and operator of US community solar and battery storage projects, announces the successful close of a 3-year $150 million revolving credit facility led by Nomura Securities International, Inc. (“Nomura”) as the Sole Lead Arranger. The facility includes structural features supporting interconnection and equipment financing, including the deployment of capital towards in-construction projects and the company’s growing greenfield and acquisition pipeline.

This milestone facility affirms PureSky Energy’s position as an industry leader in community solar, C&I and battery storage, and provides financial flexibility to grow strategically in response to unprecedented demand for clean energy projects. The transaction follows the acquisition of PureSky Energy in June 2023 by Palisade Infrastructure Group (“Palisade Infrastructure”) and Fiera Infrastructure, two preeminent global infrastructure funds.

The debt facility underscores PureSky Energy's operating track record and its capability to execute on future opportunities in the growing solar power and battery storage markets.

“Together with the support of our new shareholders, this financing provides us with the ability to further accelerate the buildout of our operating portfolio, including via targeted M&A of project portfolios at earlier stages of development, which require significant capital to advance interconnection and permitting activities,” said Jared Donald, President and CEO of PureSky Energy. “We are excited to partner with Nomura to finance new projects while accelerating the global energy transition across our existing and new markets."

Vinod Mukani, Global Head of Nomura’s Infrastructure and Power Business ("IPB"), commented, “Nomura is pleased to provide a creative solution and liquidity to PureSky Energy in its next phase of transformational expansion under Palisade Infrastructure and Fiera Infrastructure’s ownership. The transaction is exemplary of our mission, which is to champion platforms like PureSky Energy in renewable development, broadening energy customers’ access to affordable and clean energy."

“It was our pleasure to collaborate with the talented teams at PureSky Energy, Palisade Infrastructure, and Fiera Infrastructure on this unique and strategic financing. As a leading institution in clean energy financing, we are proud to deliver execution certainty and offer highly customized solutions to serve PureSky Energy’s growth strategy,” said Hua Ding, Executive Director at Nomura’s IPB.

Nomura Securities International, Inc. acted as Sole Lead Arranger for the revolving credit facility, and Macquarie Capital acted as financial advisor to PureSky Energy. King & Spalding LLP and Latham & Watkins LLP acted as legal counsel to PureSky Energy and Nomura, respectively.

About PureSky Energy:
PureSky Energy is a leading developer, owner, and operator of US community solar, C&I and storage projects with headquarters in Denver, Colorado. Since entering the US market in 2016, the company has rapidly expanded its scale and currently operates a portfolio with generation capacity of approximately 200 MWDC across 39 operating or under-construction projects expected to be completed in the short term. The company has a large pipeline of solar and battery storage projects across existing and new US markets, placing the platform in a primary position within the distributed generation market. The company’s mission is to make clean energy accessible and affordable to local communities across the United States, while shaping a brighter, more sustainable future for generations to come.

About Nomura:
Nomura is a global financial services group with an integrated network spanning over 30 countries and regions. By connecting markets East and West, Nomura serves the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Investment Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit www.nomura.com.

Website: www.pureskyenergy.com
Host A Solar Farm: https://www.pureskyenergy.com/community-host
LinkedIn: https://www.linkedin.com/company/puresky-energy  

For media inquiries, please contact:
PureSky Energy: tiffany.waugh@pureskyenergy.com - (720) 465-0702