Redeux Energy Partners LLC, a leading developer of utility-scale solar and energy storage projects, has announced the closing of a $30 million revolving letter of credit (LC) facility with Macquarie Group. This facility is designed to support Redeux’s growing project pipeline by covering key development costs, specifically those tied to interconnection and power purchase agreement (PPA) obligations. The company’s current development portfolio includes an impressive 7 gigawatts (GW) of solar generation capacity and 12 gigawatt-hours (GWh) of energy storage across major U.S. energy markets, including ERCOT, MISO, CAISO, SERC, and WECC. Macquarie’s Commodities and Global Markets division is serving as both the sole issuer and administrative agent for the new credit facility.

The financing comes at a time when interconnection costs are rising in many regions due to reforms introduced by FERC Order 2023, which has reshaped the project queue process across several Independent System Operators (ISOs). In this evolving market landscape, Redeux has already sold nearly 700 megawatts (MW) of solar and hybrid capacity to top-tier Independent Power Producers (IPPs), reinforcing its position as a key player in the renewable energy sector. Looking ahead, the company is preparing to close deals on a mid-stage portfolio in the second half of 2025, which includes 1.5 GW of solar and 3.4 GWh of storage assets primarily located in the MISO, ERCOT, and SERC markets.

Rob Masinter, CEO of Redeux Energy, commented, “Leveraging the new LC Facility, Redeux can advance high quality projects further through the development lifecycle, derisking projects for our Independent Power Producer (IPP) partners and earning more value. We are grateful to Macquarie for their support and look forward to expanding the LC Facility in the years to come.”

Sherri Brudner, Managing Director in Macquarie’s Commodities and Global Markets business, mentioned, “We are pleased to provide the LC Facility, supporting Redeux’s business plan to meet rapidly growing demand for electricity with reliable renewable energy generation and storage. Redeux has made significant accomplishments to date in several key markets, and this financing further equips Redeux with the financing needed for its utility-scale project pipeline.”

William Harrison, CEO of Cathexis Holdings, stated, “The Board is thrilled that Redeux has secured this relationship with Macquarie. The LC Facility will strengthen Redeux’s execution and sales capabilities, accelerating growth and value creation.”

To support the transaction, Redeux engaged Artola Capital Partners LLC as its financial advisor and Holland & Hart LLP as legal counsel. Macquarie was advised by Willkie Farr & Gallagher LLP. The new credit facility not only strengthens Redeux’s financial flexibility but also underscores the increasing capital needs of large-scale renewable energy developers in a rapidly shifting regulatory and economic environment.