#United States #Charlotte #Deriva Energy #Ledyard Wind #Pisgah Ridge

Deriva Energy Completes $127 Million Financing Round

On May 19, 2025, Deriva Energy, LLC, a prominent player in the clean power generation sector, announced that it has successfully completed a $127 million debt financing for its portfolio of renewable energy projects. This financing comes amid turbulent market conditions influenced partially by uncertainties surrounding tariffs and international trade policies.

The financing was provided through Senior Secured Notes offered by Principal Asset Management and MetLife Investment Management. The funds will support two active projects in Deriva's portfolio: the Ledyard Wind facility in Kossuth County, Iowa, and the Pisgah Ridge Solar facility in Navarro County, Texas. The Ledyard Wind project boasts a capacity of 207 MW, while Pisgah Ridge Solar has an impressive 250 MW capacity. Both projects commenced commercial operations in 2022 and remain committed to supplying power under long-term agreements established with reputable corporate purchasers.

Thomas Hopkins, Director of Capital Markets at Deriva, expressed his satisfaction with this financing, highlighting its significance as an achievement for the company, especially amidst the current market volatility. He noted, "We are grateful for the partnership of our investors, whose experience in renewable energy financings was extremely valuable, and we look forward to long and productive relationships with them." This sentiment is shared by Mansi Patel, Senior Managing Director and Head of Infrastructure Debt at Principal Asset Management, who stated, "We are thrilled to have led the structuring of this transaction, supporting Deriva's high-quality portfolio assets with a tailored financing solution. We are excited to continue to grow our firm's strong relationship."

This recent financing is the second one arranged in collaboration with Principal Asset Management and MetLife Investment Management since Brookfield acquired Deriva Energy in October 2023. Both firms previously participated in a $207 million debt transaction for Deriva in October 2024, underscoring their ongoing support for the company and its projects.

About Deriva Energy

Deriva Energy, originally known as Duke Energy Renewables, LLC, has established itself as a leader in the clean energy sector with over 6,200 megawatts of operating assets and an impressive 10,500 MW of assets in development across the United States. Headquartered in Charlotte, North Carolina, Deriva is a portfolio company of Brookfield, which is one of the largest owners and operators of renewable power and climate transition assets globally. Their commitment to sustainably managed energy solutions reflects in their ongoing projects and operational strategies. For more information, you can visit derivaenergy.com.

About Principal Asset Management

Principal Asset Management offers extensive capabilities across public and private markets, focusing on delivering value-driven investment solutions. They combine local insights with global perspectives to identify compelling investment opportunities for more than 1,100 institutional clients across 80 markets. As part of the Principal Financial Group®, they manage approximately $555.8 billion in assets and have been recognized as one of the best workplaces in money management for over 12 years. Learn more at PrincipalAM.com.