MN8 Energy Closes Upsize and Extension of Corporate Credit Facility to $650 Million

Expanded Capacity Supports MN8's Continued Growth in Powering the Nation's Largest Enterprise Customers; Maturity Extended to 2030

NEW YORK--(BUSINESS WIRE)--MN8 Energy ("MN8" or the "Company"), a leading renewable independent power producer in the United States, today announced the closing of an upsizing and extension of its corporate credit facility (the "Facility"). The Facility has been increased to $650 million from $350 million, and its maturity has been extended to the third quarter of 2030 from the first quarter of 2028.

The upsized Facility provides up to $550 million of revolving borrowing capacity and an additional $100 million of new capacity for performance letters of credit to support development-stage requirements such as power purchase agreement and interconnection security deposits. The Facility also includes a $300 million accordion feature, providing the flexibility to add loan capacity to scale alongside the continued growth of MN8's portfolio.

“This transaction reflects the strength of MN8’s contracted power generation platform and the continued engagement of our financing partners as we scale to meet unprecedented demand growth across the U.S. power sector," said David Callen, chief financial officer of MN8 Energy. "Nearly doubling the size of our corporate credit facility while extending its tenor — and doing so with broad participation from a top-tier group of financial institutions — gives us the capital flexibility, liquidity and credit support we need to continue executing on one of the most active development pipelines in the country and to deliver reliable, long-term power to America's largest enterprise customers. We are grateful to our lender group for their continued support."

The transaction was met with strong demand. Existing lenders to MN8's prior facility participated in the upsized Facility, with several increasing their commitments, and the lender group was further expanded through the addition of new participants.

J.P. Morgan led the syndication as Lead Arranger and Bookrunner, with Wells Fargo serving as Joint Lead Arranger. Bank of America, Societe Generale, MUFG and Crédit Agricole CIB acted as Co-Syndication Agents.

Proceeds from the Facility will be used for general corporate purposes, including funding MN8's continued growth investments and providing letters of credit to support the development of new generation and storage capacity. The Facility positions MN8 to meet the strong and growing demand for electricity across the U.S. economy — driven by accelerating data center buildouts, manufacturing investment and broader electrification — particularly among the large enterprise customers MN8 serves.

About MN8 Energy
MN8 Energy serves enterprise customers on their journey to an electrified, decarbonized world by providing renewable energy and related services. With approximately 4 gigawatts of operational and under-construction solar projects, 1.1 gigawatt hours of battery energy storage capacity comprised of over 874 projects across 29 states, and more than 100 high-power EV charging stations across 26 states, MN8 is one of the largest and most sophisticated independent solar energy and energy storage power producers in the United States. MN8 is headquartered in New York and has offices in South Florida, Dallas, and Madrid. Learn more at MN8.com.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements, which reflect MN8 Energy's current views with respect to, among other things, the operations and performance of MN8 Energy's business, its financing strategy and its growth plans. You can identify these forward-looking statements by the use of words such as "may," "should," "will," "believe," "expect," "anticipate," "intend," "plan," "estimate," "potential," "continue," or the negative version of these words or other comparable terminology. Forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those expressed or implied. MN8 Energy assumes no obligation to update any forward-looking statements, except as required by law.