Delaware Life arranges $400m credit facility with Fundamental Renewables

Written by Adam Cadle

16/09/2022

Delaware Life has arranged a $400m credit facility with Fundamental Renewables, the clean energy investment arm of Fundamental Advisors (Fundamental).

The insurance company will act as a lead lender. Other lenders include CDPQ American Fixed Income V Inc., a wholly-owned subsidiary of CDPQ, and East West Bank.

The facility provides Fundamental Renewables with additional resources to support long-term growth and build on the momentum across the business as it continues to invest in premier renewable and clean energy assets and provide flexible financing solutions to leading clean energy developers.

“We are pleased to continue our partnership with Fundamental and look forward to playing an important role in their continued growth as they create innovative clean energy financial solutions," Andrew Kenney, chief investment officer at Delaware Life, said.

"This credit facility represents our fourth financing for Fundamental, and will provide additional capital to enhance its ability to offer more efficient and flexible financing solutions across a broad array of renewable energy assets. This project continues Delaware Life and Group 1001's commitment to ESG initiatives around the country."

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