Onyx Renewables secures $260 million to expand US distributed solar

Onyx Renewables, a US-based provider and long-term owner of distributed clean energy solutions, has secured a $260 million senior secured credit facility. The funding will support the expansion of its distributed energy portfolio, including onsite solar PV and battery storage projects across the United States. The facility, structured with Apterra as the Administrative Agent and Lead Arranger, also includes financing participation from Investec and Atlas SP. It comprises a term loan, revolving line of credit, and a $10 million Letter of Credit facility, and may increase to $350 million. The funds will replace Onyx’s existing revolving credit line and are intended to support the construction and operation of energy infrastructure aimed at delivering cost savings and resilience for commercial and industrial clients.