Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

v3.21.2
Subsequent Events
9 Months Ended
Sep. 30, 2021
Subsequent Events [Abstract]  
Subsequent Events Subsequent EventsOn October 8, 2021, a wholly owned subsidiary of the Company entered into an amendment (the “Amendment”) to a syndicated, senior secured credit facility which was entered into with various lenders on April 20, 2021 and was first amended on May 5, 2021 (as amended, the “Credit Facility”). The Credit Facility had commitments of $800.0 million, is non-recourse to the Company and is secured by net cash flows from power purchase agreements and leases available to the borrower after distributions to tax equity investors and payment of certain operating, maintenance and other expenses, and matures on April, 20, 2025. The Amendment amends certain terms of the Credit Facility, including reducing the interest rate (i) for the period from the date of the Amendment to April 20, 2024 from the applicable index (LIBOR or SOFR) + 250 basis points to the applicable index + 200 basis points and (ii) for the period from and after April 20, 2024, from the applicable index + 350 basis points to the applicable index + 300 basis points; and increasing total loan commitments available by $1.0 billion, bringing the total commitments to $1.8 billion.