First Citizens Bank arranges $300 million credit for Swift Current Energy

On September 9, 2024, First Citizens Bank announced its role as co-lead arranger for a significant $300 million senior secured credit facility aimed at supporting Swift Current Energy, a prominent player in the North American clean energy sector. This financing is intended to provide Swift Current with the necessary capital to advance its ambitious plans for developing a pipeline of 10 gigawatts of renewable energy projects, which include wind, solar, and energy storage initiatives. Swift Current Energy, founded in 2016, is focused on creating competitive utility-scale renewable energy solutions across the United States. The company aims to own and operate 1 gigawatt of these projects by the end of the year, contributing to the stability and reliability of the energy grid while delivering clean energy at competitive prices. Eric Lammers, the CEO and Co-Founder of Swift Current, expressed appreciation for the expertise provided by First Citizens Bank in arranging this crucial financing. The Energy Finance division of First Citizens Bank is recognized for its deep industry knowledge and comprehensive financing solutions tailored for both renewable and conventional power generation. Mike Lorusso, who leads this division, highlighted Swift Current's strong reputation in the industry for successfully developing renewable power projects, indicating a collaborative effort to create a flexible financing package that aligns with Swift Current's growth objectives. This partnership not only underscores First Citizens Bank's commitment to supporting clean energy initiatives but also reflects the growing importance of renewable energy in the broader energy landscape, as companies like Swift Current continue to innovate and expand their operations in pursuit of sustainable energy solutions.