MN8 Energy secures $612 million for 517 MW solar portfolio across three states

Natixis Corporate & Investment Banking (Natixis CIB), headquartered in Paris, has arranged $612 million in financing for MN8 Energy’s 517 MW DC solar portfolio. The portfolio includes projects in Illinois, Kentucky, and North Carolina, supporting construction and future refinancing options. All the three projects are expected to reach their commercial operations by the end of 2025. The financing structure consists of a construction bridge facility, a tax-credit-transferability-linked loan, and an LC facility. MN8 Energy, originally founded as Goldman Sachs Renewable Power LLC in 2017, became independent in 2022 and manages 4 GW of solar capacity and 1.1 GWh of battery storage. This transaction is closed on December 31, 2024, with the construction already in progress.