LRE secures $1.25 billion facility for 1 GW hybrid projects

US-based Leeward Renewable Energy (LRE) has secured a $1.25 billion construction warehouse facility, significantly boosting its financial capacity for ongoing and future projects. The three-year revolving facility supports six fully contracted wind, solar, and battery storage projects totaling nearly 1 GW, expected to commence operations between 2024 and 2025. Wells Fargo acts as the administrative agent, with Canadian Imperial Bank of Commerce, Royal Bank of Canada, The Toronto-Dominion Bank, and First Horizon Bank as additional lenders. The company claims this financing initiative reflects LRE’s strategic expansion, backed by its current platform of over 3 GW of operational assets and more than 30 GW of projects in development. Stoel Rives LLP provided legal counsel to LRE, while Latham & Watkins LLP represented the lenders.