US-based Madison Energy Infrastructure has secured $800m in debt to support the deployment of clean energy infrastructure across the country.
The company secured the construction-to-term debt facility from a group of new and existing lenders, comprising Fifth Third Bank, Société Générale, BNP Paribas, KeyBank, Crédit Agricole, TD Bank, Lloyd’s, and Natixis.
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The facility will enable Madison to address increasing customer demand and reach 1GW in operating capacity.
Madison co-founder and CFO Steve Cunningham said: “We believe clean energy infrastructure is a foundational part of our economic future, and this facility reflects Madison’s commitment to serving our customers and partners for decades to come.
“We are thrilled to partner once again with Fifth Third and so many other leading institutions to bring the capital and financial certainty necessary to fuel our growth.”
The debt facility will support project development, construction, and ongoing operations, enabling Madison to enhance its clean energy services for a diverse range of businesses, organisations, and communities.
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By GlobalDataMadison finance executive vice-president Iwona Guier said: “This milestone builds on our enduring alliances with existing lenders who have been with us for many years as well as new banks as we continue to grow.”
Established in 2019, Madison Energy develops, owns, and operates distributed solar and energy storage projects throughout the US.
It currently functions as a portfolio company of EQT Infrastructure, which acquired Madison from the affiliates of Stonepeak Partners.
According to EQT Infrastructure, Madison has developed a portfolio exceeding 470MW of assets since its inception.
