The Customer
A global energy infrastructure company that focuses on providing modernized, cleaner, and more efficient energy solutions, particularly natural gas. It aims to rapidly replace heavier-emission fuels with natural gas and renewables. They target emerging markets where there is a high demand for energy infrastructure development and a shift towards low-carbon energy sources. They provide a comprehensive end-to-end service, from installing infrastructure to delivering natural gas.
The Challenge
- After the 2017 Hurricanes in Puerto Rico, the company invested in infrastructure to support the rapid rebuilding and modernization of energy systems using LNG.
The entered into a very large gas supply contract to power the island and allow other plants to convert to lower-cost natural gas generation.
A flexible capital solution with higher advance rates, a fast timeline, prepayment capabilities, and the ability to execute in US territory was required to refinance the nine remaining generators after the first eleven were sold to the island power authority.
Done Deal.
- FNC approved and funded $148,500,000 in financing in less than 30 days for the nine generators located in Puerto Rico.
- After working with the client to learn about a 2023 financing opportunity already awarded to a major bank, FNC was able to learn of they key requirements for the transaction so any new opportunities would be addressed swiftly and in line with customer expectations.
- FNC’s energy experts were able to assemble a team of capital, legal, and asset experts unified in their commitment to overcome obstacles and quickly find solutions.
- Execution with incredible speed and unmatched contract flexibility that allowed for prepayment should the turbines need to be sold to local power authorities.
- FNC was able to deliver because of our significant capital resources and relentless advocacy for our client’s needs through a transaction most traditional lenders would have found difficulty moving forward with.
First National Capital Energy Financing
Equipment and project financing for companies in the drilling, wholesale, distribution, refining, exploration, and production of oil and gas.
