BlueWave, a leading solar and storage developer in the Northeast U.S., has secured two major financing deals with support from Axium Infrastructure. The company obtained a $125 million revolving construction-to-term loan facility and a $122 million corporate revolving credit facility.
The construction loan, led by KeyBank and the National Bank of Canada, will provide flexible financing for community solar and storage projects. Meanwhile, the corporate credit facility, arranged by KeyBank and CIBC’s New York branch, will support BlueWave’s ongoing project development and operational needs.
KeyBank remains a key partner across both facilities, while CIBC has increased its involvement in the corporate facility. This financing strengthens BlueWave’s foundation for advancing its clean energy projects.
Support: BlueWave was advised by Norton Rose Fulbright and Foley Hoag on the construction facility and King & Spalding on the corporate facility. KeyBank and National Bank of Canada were advised by Winston & Strawn on the construction facility. KeyBank and Canadian Imperial Bank of Commerce were advised by Latham & Watkins on the corporate facility.
KEY QUOTES:
“These financial milestones reflect BlueWave’s ability to deliver results and push forward through a volatile market. The support of our financial partners enables us to scale innovative clean energy solutions that are resilient, inclusive and impactful.”
Sean Finnerty, Chief Executive Officer
“We’ve seen firsthand the growing need for reliable energy solutions, and our investment reflects our confidence in BlueWave’s strategy, team and ability to help make that a reality. We’re proud to support a company that is not only advancing the clean energy transition but doing so with a clear commitment to communities.”
Tyler Nielsen, KeyBanc Capital Markets’ Managing Director
