Exus Renewables North America has closed a $400 million senior secured corporate credit facility to fund the expansion of its utility-scale wind, solar, and battery storage portfolio.

The company noted that the expansion would support it in meeting huge demand emanating from the data center market, where it has already signed several offtake agreements.

The financing will support development activity across Exus’ North American pipeline, which includes more than 700MW of renewable capacity in operation or under construction and a further 4.5GW in active development. Proceeds will be used for interconnection deposits, equipment procurement, commercial offtake arrangements, and other early-stage project costs.

The company said the facility strengthens its ability to respond to growing demand from hyperscale data centers, manufacturers, and industrial customers seeking long-term access to reliable power. Exus has recently signed major power purchase agreements with large technology companies, including Google and Meta, reflecting increased competition for new generation capacity in key US markets.

Exus inked a 35MW Power Purchase Agreement (PPA) with Google in March of last year. The PPA is expected to last for a period of ten years and see the renewable developer supply the hyperscaler with power from a 51MW wind farm in Cascante, northern Spain.

The Meta deal is tied to a 140MW solar + 50MW battery energy storage project in Rio Rancho, New Mexico. The facility is expected to help power Meta’s Los Lunas data center.

The credit facility was arranged by Santander, Barclays, ING Capital, and Nomura Securities International as coordinating lead arrangers, with KeyBanc Capital Markets and BHI acting as joint lead arrangers. ING and Nomura also served as green loan coordinators.