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Deriva Energy Secures $127 Million Debt Financing for Wind and Solar Projects

Deriva Energy has successfully closed a $127 million debt financing for two of its operating renewable energy assets—Ledyard Wind (207 MW, Iowa) and Pisgah Ridge Solar (250 MW, Texas). The funding was provided through Senior Secured Notes by Principal Asset Management and MetLife Investment Management. Both projects commenced commercial operations in 2022 and are backed by long-term power purchase agreements with reputed corporate buyers.

Thomas Hopkins, Director of Capital Markets at Deriva, highlighted the importance of securing this deal amid a challenging macroeconomic environment marked by trade and tariff uncertainties. Mansi Patel of Principal Asset Management emphasized the value of Deriva’s high-quality assets and reiterated their commitment to expanding the partnership.

This marks the second major financing round with these investment partners following a $207 million transaction in October 2024. The ongoing support underlines confidence in Deriva’s renewable energy strategy, especially following its acquisition by Brookfield in October 2023.