Scout Clean Energy secures $250M credit facility
BOULDER — Renewable-energy developer Scout Clean Energy LLC has closed a $250 million revolving corporate credit facility.
The facility enables the company to borrow funds as needed and will be used to fund pre-construction development and equipment expenses, as well as other expenses related to Scout’s pipeline of wind, solar and storage projects.
KeyBanc Capital Markets is organizing the loan facility.
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“Scout is excited to strengthen our existing relationship with KeyBanc Capital Markets who has consistently supported Scout’s growth over many years,” Michael Rucker, founder and CEO of Scout, said in a written statement. “With this new credit facility, we plan to aggressively push Scout’s growth pipeline in wind, solar and battery storage encompassing over 12,000 megawatts of planned renewable energy build across 21 states.”
Boulder-based Scout was acquired in 2017 by Quinbrook Infrastructure Partners Ltd., a private-equity firm that invests in renewable-energy projects.
Scout is developing a portfolio of 12,000 megawatts of onshore wind, solar and battery-storage projects across 21 US states.