Deriva Energy, LLC, a leader in clean power generation, has announced the completion of a $127 million debt financing for a portfolio of two operating energy assets. The financing was arranged with Principal Asset Management and MetLife Investment Management, who provided Senior Secured Notes for the portfolio. The projects, Ledyard Wind in Iowa and Pisgah Ridge Solar in Texas, began commercial operations in 2022 and sell power under long-term agreements. This marks the second debt financing collaboration between Principal, MetLife, and Brookfield, following a previous $207 million transaction in 2024. Thomas Hopkins of Deriva praised the partnership for its value during market turbulence, while Mansi Patel of Principal expressed enthusiasm for continuing the strong relationship.
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