Transaction Strengthens Capital Structure and Supports Continued Growth in Renewable Energy Portfolio
NEW YORK, July 11, 2025 /PRNewswire/ — MN8 Energy LLC (“MN8 Energy” or the “Company”), one of the largest independent renewable energy companies in the United States, today announced the successful closing of its $575 million Senior Secured Notes offering. Natixis Corporate & Investment Banking (“Natixis CIB”) served as Lead Placement Agent, Ratings Advisor, and Green Issuance Coordinator for the transaction.
The notes are backed by a highly diversified portfolio consisting of 972 MW of distributed generation and utility-scale photovoltaic (PV) solar projects, along with a 75 MW 4-hour Battery Energy Storage System (BESS), collectively known as MN8 Portfolio IV.
Strategic Use of Proceeds
MN8 Energy intends to use the net proceeds from the notes offering to repay project debt and fund a distribution to be reinvested across MN8’s broader portfolio. The transaction is structured with delayed funding tranches coinciding with project completion milestones, enabling, in combination with tax equity contributions, the full refinancing of the $612 million construction bridge financing MN8 closed in December 2024 for three solar plants totaling 517MW. The master indenture document structure will allow for subsequent notes issuances in 2026 and 2027 as MN8’s pipeline of development projects come online.
Management Commentary
“This $575 million financing supports MN8’s growth trajectory and underscores the strength of our diversified renewable energy platform,” said David Callen, CFO of MN8 Energy. “We’re grateful to have Natixis and all our financing partners for their support on this transaction. Natixis’ deep project finance expertise and their significant debt underwriting capabilities made them an ideal choice to lead this complex transaction. This financing provides us with the flexibility we need to efficiently fund our robust pipeline as we continue scaling our business.”
“We are proud to have worked once again with MN8 on another landmark renewables deal,” said Anthony Ferraro, Natixis CIB Co-head of DCM, Americas. “This successful collaboration highlights the strength of our partnership with MN8 as well as Natixis CIB’s market leading infrastructure finance franchise with comprehensive solutions across project finance, rate hedging and debt capital markets.”
Transaction Details
Issue Size: $575 million
Security Type: Senior Secured Notes
Portfolio: MN8’s Portfolio IV showcases broad geographic diversity with 29 project sites across nine states, providing bi-coastal exposure across various weather conditions. As one of the largest PV solar and BESS portfolios recently brought online in the United States with more becoming operational in 2025, its scale, diverse locations, and sponsorship position MN8 as a pivotal player in the industry. The Portfolio is internally managed by MN8 and benefits from adopting advanced technologies and Tier-1 OEMs and EPCs.
Geographic Diversification: 29 project sites across nine states
Use of Proceeds: Repay project debt and fund distribution for reinvestment
Structure: Delayed funding tranches tied to project completion milestones
Lead Placement Agent: Natixis Corporate & Investment Banking
Additional banks participating in these facilities include Joint Placement Agents Societe Generale and HSBC Bank USA, as well as Co-Placement Agents CIBC, MUFG Securities Americas Inc., and Texas Capital. The Letter of Credit (LC) facility of $145.7 million was provided by Natixis CIB, Societe Generale, and HSBC Bank USA, N.A..
About MN8 Energy
MN8 Energy serves enterprise customers on their journey to an electrified, decarbonized world by providing renewable energy and related services. With approximately 4 gigawatts of operational and under-construction solar projects, 1.1 gigawatt hours of battery energy storage capacity comprised of over 874 projects across 29 states, and more than a 40 high-powered EV charging stations across 10 states, MN8 is one of the largest and most sophisticated independent solar energy and energy storage power producers in the United States.
About Natixis Corporate & Investment Banking
Natixis Corporate & Investment Banking is a leading global financial institution that provides advisory, investment banking, financing, corporate banking and capital markets services to corporations, financial institutions, financial sponsors and sovereign and supranational organizations worldwide.
Our teams of experts in about 30 countries advise clients on their strategic development, helping them to grow and transform their businesses, and maximize their positive impact. Natixis CIB is committed to aligning its financing portfolio with a carbon neutrality path by 2050 while helping its clients reduce the environmental impact of their business.
As part of Groupe BPCE, the second largest banking group in France through the Banque Populaire and Caisse d’Epargne retail networks, Natixis CIB benefits from the Group’s financial strength and solid financial ratings (Standard & Poor’s: A+, Moody’s: A1, Fitch: A+, R&I: A+).
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements, which reflect MN8 Energy’s current view with respect to, among other things, the operations and performance of MN8 Energy’s business. You can identify these forward-looking statements by the use of words such as “may”, “should”, “will”, “believe”, “expect”, “potential”, “continue”, “approximately”, “predict”, “intend”, “plan”, “estimate”, “anticipate” or the negative version of these words or other comparable words. Forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. MN8 Energy undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.
Contacts
MN8 Energy
Candice Adams
Head of Communications & Investor Relations
candice.adams@mn8.com
+1-332-345-2243
NATIXIS CIB
Tara Flanagan, Prosek Partners
tflanagan@prosek.com
Tel: +1 646 818 9022
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SOURCE Natixis
