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Onyx Renewables Secures $260 Million in Financing to Enhance Clean Energy Projects

On June 6, 2025, Onyx Renewables, a prominent name in localized clean energy solutions, revealed that it has successfully closed a substantial credit facility amounting to $260 million. This financial boost is aimed at accelerating the development of Onyx's distributed energy projects across the United States. The financing arrangement includes a senior secured facility that has the potential to increase to $350 million, ensuring robust support for the company's growth trajectory.

The facility encompasses a term loan, a revolving line of credit, and a letter of credit worth $10 million, all of which are strategically designed to ensure the seamless construction and operation of Onyx’s clean energy infrastructure. This infrastructure comprises onsite solar photovoltaic (PV) systems and battery storage capabilities, both of which are set to deliver immediate cost savings, enhance operational reliability during power outages, and significantly lower carbon emissions for a diverse clientele.

Apterra Infrastructure Capital played a pivotal role in this financial transaction by serving as the Administrative Agent, Lead Arranger, and Sole Bookrunner. This partnership underlines a strong signal of investor confidence in Onyx’s proven capabilities in energy development, construction, and operations. Additionally, Investec contributed as a lender, providing essential support for these renewable initiatives, along with ATLAS SP Partners, which functions as a lender for this transaction.

According to Mary Beth Mandanas, the CEO of Onyx Renewables, this financing structure is a crucial step towards fulfilling the urgent demand for effective and resilient power solutions in both commercial and industrial sectors. Mandanas emphasized that this funding positions Onyx favorably to scale operations while delivering high-quality, dependable solutions to their customers looking for environmentally responsible energy options.

The co-CEOs of Apterra, Michael Pantelogianis and Ralph Cho, shared their pride in successfully leading this key financing transaction. They remarked on the potential these projects have in delivering competitive clean energy solutions across a wide range of needs, showcasing how tailored infrastructure financing can assist leading developers and operators in achieving their goals.

Onyx Renewables is at the forefront of facilitating the transition from current clean energy solutions to future possibilities. The company employs its vast industry expertise to effectively develop, finance, construct, own, and operate projects that yield immediate economic and environmental benefits for businesses, industries, and institutions. Their portfolio extends from solar energy systems to battery storages, as they adeptly simplify the complexities of energy and regulatory frameworks into concrete results. Onyx aims to foster a sustainable future, paving the way for the next generation to thrive in an environmentally conscious world.

In addition, Onyx actively collaborates with developers and Engineering, Procurement, and Construction (EPC) firms, offering support and funding to acquire clean energy projects aimed at further enhancing their impact in the renewable energy sector. This concerted approach not only strengthens the company's commitments to sustainability but also sets a benchmark for innovation in clean energy financing and project execution.

Through this secured financing, Onyx Renewables strengthens its operational capabilities and reinforces its mission to provide superior energy solutions. As they embark on this next chapter, their commitment to clean energy and sustainability remains stronger than ever, promising a transformational impact on energy consumption and management across various sectors in the forthcoming years.