Redeux Energy Secures $30 Million Letter of Credit Facility to Support Solar and Battery Storage Project Development

DENVER, June 12, 2025 /PRNewswire/ -- Redeux Energy Partners LLC ("Redeux"), a leading utility-scale solar and energy storage development company, today announced the close of its new $30 million revolving letter of credit facility ("LC Facility") with Macquarie Group ("Macquarie"). The new LC Facility will allow Redeux to finance development expenses related to interconnection and power purchase agreement obligations for its utility-scale project pipeline, currently totaling 7 GW of solar generation capacity and 12 GWh of storage capacity spanning ERCOT, MISO, CAISO, SERC, and WECC energy markets. Macquarie's Commodities and Global Markets business is the sole Issuer and Administrative Agent for this new facility.

With the implementation of queue reform through FERC Order 2023, interconnection costs have increased in many markets. "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" said Rob Masinter, CEO of Redeux Energy. "We are grateful to Macquarie for their support and look forward to expanding the LC Facility in the years to come."

"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," said Sherri Brudner, Managing Director in Macquarie's Commodities and Global Markets business. "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."

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

To date, Redeux has sold nearly 700 MW of utility-scale solar and hybrid project capacity to leading IPPs. Targeting closings in 2H 2025, Redeux is actively marketing a mid-stage project portfolio totaling 1.5 GW of solar capacity and 3.4 GWh of storage capacity in MISO, ERCOT and SERC markets.

Artola Capital Partners LLC ("ACP") acted as financial advisor and Holland & Hart LLP as legal counsel to Redeux in connection with the LC Facility transaction. Willkie Farr & Gallagher LLP acted as legal counsel to Macquarie.

ABOUT REDEUX:
Redeux is a utility-scale solar and storage development company with expertise in a range of strategies to transform greenfield, mined and industrial lands into renewable power infrastructure that produces new revenue streams and addresses local needs for economic and workforce development. Redeux is powered by exceptional people and processes. Redeux is backed by Cathexis Holdings, which is a Houston-based holding company with active investments across several industries, including real estate, infrastructure, and energy. Thoroughbred Holdings, a Redeux investor and co-founder, originates and supports investments in world-class infrastructure, energy and natural resource assets. Founded in 2021, Redeux is headquartered in Denver, Colorado. Learn more at www.redeuxenergy.com

Contact: [email protected]

SOURCE Redeux Energy