ONYX IN THE NEWS

Onyx Renewable Partners L.P. (“Onyx”) closes Revolving Credit facility to support construction of solar projects

New York, New York - September 2, 2022

Onyx Renewable Partners L.P. (“Onyx”) closed on a refinancing and significant expansion of its revolving credit facility to support its pipeline of distributed solar and energy storage projects consisting of over 100 assets spanning 26 states. Investec Inc. served as sole lead arranger, Investec Bank Plc also serves as administrative agent to the lenders and Deutsche Bank Trust Company Americas as collateral agent.

Buck Fletcher, Chief Financial Officer at Onyx

“The facility provides Onyx the flexibility to fund LCs, pre-construction, and construction for existing and future projects. Furthermore, it reduces Onyx's overall cost of capital and maintains our established advantage of delivering clean energy solutions to clients in the distributed generation marketplace.”

Fred Petit, Head of Renewables at Investec

“Investec is delighted to have closed this successful financing for Onyx. We worked with Onyx to structure a facility that would provide sufficient flexibility to the company for the development and construction of its current pipeline of projects at an efficient cost of capital. This financing demonstrates Investec’s continued commitment to ESG and ability to meet our clients’ objectives.”

 

About Onyx

Onyx Renewable Partners is a clean energy company, providing decarbonization solutions to customers in the commercial, industrial, and municipal sectors. Their mission is to create the bridge from today’s clean energy reality to tomorrow’s possibilities. Established in 2014, Onyx has deep experience in developing, financing, constructing, and operating renewable energy facilities for hundreds of customers across North America.

About Blackstone

Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone

About SDCL

ustainable Development Capital LLP (“SDCL”), an investment firm established in 2007, with a proven track record of investment in energy efficiency and decentralised generation projects in the UK, Continental Europe, North America and Asia. SDCL is headquartered in London and also operates worldwide from offices in New York, Dublin, Madrid, Hong Kong, and Singapore. SDCL is authorised and regulated in the UK by the Financial Conduct Authority. Further information can be found at www.sdclgroup.com.