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Swift Current Energy Secures Up to $1 Billion in Credit Facility

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Swift Current Energy, a Massachusetts-based renewable energy company, on Thursday said it has secured a corporate credit facility of $750 million, with the option to increase it by another $250 million to up to $1 billion.

The 3-year term dual-tranche facility will provide the company flexible access to cash and letter of credit capacity helping it advance develop, commercialize, own and operate large-scale energy projects in the US, the company said in a statement.

"With competitive pricing and flexible terms, the facility significantly expands Swift Current's financial capacity to advance its portfolio and support continued growth," the company said in its statement.

Founded in 2016, Swift Current has commercialized 5 gigawatt of clean energy projects, owns and operates more than 1 GW, and has over 10 GW under development, the statement added.

The company is majority-owned by funds managed by IFM Investors and Lookout Ridge Energy Partners.

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