Developer and independent power producer of distributed renewable energy assets Catalyze has secured a $400m multiyear debt facility from ATLAS SP Partners.
The financing will enable the construction and integration of Catalyze’s expanding portfolio, which includes commercial, industrial, community solar and battery storage projects across the US.
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The facility offers Catalyze greater flexibility in its expansion plans, while simplifying the financing process for upcoming projects.
Catalyze CEO Jared Haines stated: “This facility is a critical milestone for Catalyze in our strategy to scale distributed renewable energy solutions for businesses and communities across the US and will enable us to double in size by the end of the year, reaching 300MW in operation.
“ATLAS’ deep expertise in the distributed generation sector made them an ideal partner. We look forward to building on our partnership to help meet the increasing demand for renewable energy solutions.”
Catalyze’s existing project portfolio comprises 300MW in both operations and construction, alongside more than 1GW of potential investment opportunities within its development pipeline.
The company’s growth strategy is bolstered by continued support from its private equity backers, EnCap Investments and Actis, as Catalyze expands its renewable energy portfolio.
ATLAS managing director Can Baysan said: “At ATLAS, we are proud to support Catalyze as they continue to lead in distributed energy project development. With our extensive experience in solar asset-backed financings, we were able to provide Catalyze with added flexibility that will help them execute on their expansion goals.”
The US Energy Information Administration (EIA) has forecast that power consumption in the US will reach record levels in 2025 and 2026.
The increase is due to higher electricity demand from data centres for AI and cryptocurrency, as well as more use in homes and businesses for heating and transportation.
The EIA expects power demand to grow to 4,179 billion kilowatt-hours (kWh) in 2025 and 4,239 billion kWh in 2026, up from the 2024 record of 4,082 billion kWh.
