Onyx Renewables Secures $260 Million in Secured Credit Facilities to Support Nationwide Deployment of Localized Clean Energy Solutions
NEW YORK, NY – June 5, 2025
Onyx Renewables (Onyx), a leading provider and owner of localized clean energy solutions, today announced the closing of a $260 million credit facility to support the growth of Onyx’s portfolio of distributed energy projects across the U.S.
The senior secured facility, which may be increased to $350 million, is comprised of a term loan, revolving line of credit, and a $10 million Letter of Credit facility that will directly support the ongoing construction and operation of Onyx’s clean energy infrastructure projects including onsite solar PV and battery storage. These installations are expected to deliver both immediate and long-term benefits to a broad range of customers through energy cost savings, operational resiliency during outages, and reduced carbon emissions.
Apterra Infrastructure Capital served as the Administrative Agent, Lead Arranger, and Sole Bookrunner for the financing. Investec acted as a Lender and Letter of Credit and Hedge Provider, and ATLAS SP Partners, the warehouse finance and securitized products business majority owned by Apollo funds, acted as a Lender for the transaction. The new loans will replace Onyx’s existing revolving credit facility and represent the company’s largest institutional capital raise to date, underscoring strong investor confidence in the company’s proven development, construction and operating capabilities.
“This financing structure supports the growth and value created by the Onyx team and enables us to address the urgent need for implementing cost effective, resilient power solutions in the commercial and industrial sectors,” said Mary Beth Mandanas, CEO of Onyx Renewables. “We are well-positioned to further scale and deliver the best-in-class, quality solutions our customers expect.”
“Apterra is proud to have led this milestone transaction for Onyx, supporting the company’s continued growth and development of high-quality renewable energy projects,” said Michael Pantelogianis and Ralph Cho, co-CEOs of Apterra. “These projects are poised to deliver cost-competitive clean energy to a broad range of customers, and we believe the transaction demonstrates the types of customized infrastructure finance solutions that Apterra can provide to leading developers and operators.”
About Onyx Renewables
Onyx Renewables is helping companies create the bridge from today’s clean energy reality to tomorrow’s possibilities. A leading provider of localized clean energy solutions nationwide, Onyx leverages its wide-ranging industry expertise to develop, finance, construct, own and operate projects that deliver immediate economic savings and sustainability for our commercial, industrial, and institutional customers. From solar energy to battery storage and beyond, Onyx transforms energy and regulatory complexities into tangible results, delivering best-in-class, quality solutions to promote a sustainable future for the next generation. Onyx also partners with developers and EPCs to support, fund, and acquire clean energy projects.
About Apterra
Apterra, an affiliate of Apollo Global Management, is a premier platform specializing in innovative financing solutions for infrastructure projects. Our tailored capital services empower clients, including financial sponsors and developers, to optimize assets and achieve sustainable growth. Fueled by strong relationships, our distribution network ensures seamless access to capital through partnerships with banks, investors, and asset managers. We are focused on driving growth and operational integrity in the infrastructure sector, while creating enduring value for our clients. Visit www.Apterra.com to learn more.
Onyx Renewables: Jenna Leitgeb, media@onyxrenewables.com
Apterra: https://apterra.com/contact