#USA #Jacksonville #Voya Investment #Palladium Energy #Solar Development

Palladium Energy Closes a $66 Million Development Loan with Voya

Palladium Energy, a prominent power development firm based in the United States, has recently concluded a substantial development loan of $66 million from Voya Investment Management. This financing, originating from Voya's renewable energy and sustainable infrastructure debt platform, is set to propel Palladium's ongoing utility-scale solar projects, including a portfolio of advanced-stage initiatives across South Carolina.

The loan comes at a crucial time as Palladium continues to solidify its foundation in the rapidly evolving renewable energy sector. With over 300 MW of long-term offtake contracts already in place, this financing not only underscores Palladium's execution capabilities but also highlights the quality of its project pipeline.

According to Danny Weidlich, co-founder and CEO of Palladium Energy, this financing signifies a pivotal achievement for the company and reflects the robust platform they have cultivated. Weidlich emphasized the integral role of Voya Investment as a partner in this venture, stating, "We are proud to work alongside Voya, who has been a strong and valued partner throughout this process. Their commitment and support will be integral as we continue to execute on our pipeline of projects and deliver sustainable, renewable energy to communities across the country."

Edward Levin, Managing Director and Co-Head of Direct Infrastructure at Voya Investment Management, commented on the collaboration: "We are pleased to support Palladium Energy in advancing a high-quality portfolio of utility-scale solar projects. This transaction reflects our continued commitment to financing renewable energy projects and partnering with experienced developers to accelerate the transition to a more sustainable energy system."

Background on Palladium Energy

Founded in 2019, Palladium Energy is dedicated to providing clean energy solutions through the acquisition, development, and financing of utility-scale power and digital infrastructure projects. Over the years, Palladium has successfully developed a diverse portfolio of projects, showcasing its team's operational capabilities and commitment to renewable energy.

Voya Investment Management

Voya Investment Management, with a history of approximately 50 years in active investing, manages around $353 billion in assets. The firm specializes in various investment categories, including public and private fixed income, equities, and multi-asset solutions, catering to a wide range of institutional and individual investors. Voya's investment philosophy emphasizes understanding clients' needs and delivering strong investment performance while promoting inclusion within their practices.

As part of the agreement, King & Spalding LLP acted as legal counsel for Voya Investment Management, while Barnes & Thornburg LLP served as legal counsel for Palladium Energy. U.S. Bank took on the role of administrative agent for the financing facility.

As Palladium Energy moves forward with its plans, it stands firm in its mission to provide sustainable energy solutions to communities across the nation, marking a significant step towards a greener future with this latest funding initiative. The partnership with Voya Investment Management not only demonstrates Palladium's promising potential in the renewable sector but also reflects a broader trend of increasing investment in clean energy technologies as the global market shifts towards sustainability. This collaboration signifies hope and progress in transforming the energy landscape for future generations, ensuring a cleaner, more sustainable environment for all.