Carlyle Group-backed Copia Power has closed a US$150m revolving credit facility led by Bank of Montreal as administrative agent and SMBC as arranger. The three-year loan will fund the company's solar, wind and battery storage projects under development in the US.
Carlyle formed Copia in 2021 to develop utility-scale sustainable infrastructure in the US by partnering with established sponsors to develop, own and operate assets. Through initial partnerships with Omaha-based developer Tenaska and Portland-based commercial and industrial renewables firm Birch Infrastructure, Carlyle aimed to deploy up to US$700m and arrange more than US$6bn in project finance to develop and expand assets. At its launch Copia acquired an approximately 6GW US solar and storage development pipeline from Tenaska.
