
Warburg Pincus-Backed Scale Microgrids Closes $225M “First of its Kind” Debt Energy Facility
Scale Microgrids, a distributed energy company focused on designing, building, financing, owning and operating energy assets and a portfolio company of Warburg Pincus, has closed a $225 million non-recourse finance debt facility.
The facility, the “first of its kind” according to the company, will be used for construction and operation of solar energy storage systems and electric vehicle infrastructure projects.
The portfolio includes California, Oregon, the District of Columbia, Pennsylvania, Delaware, Colorado, North Carolina, New Jersey and New York as its markets.
“This deal serves as proof that the renewable energy landscape is changing,” said Ryan Goodman, co-founder and chief executive officer at Scale Microgrids.
KeyBanc Capital Markets acted as joint lead arranger and structuring administrative agent on the loan. City National Bank also contributed as joint lead arranger, and Energetic Insurance provided a credit insurance policy enabling access to the bank lending market.
