CHARLOTTE, N.C., October 21, 2026 – Deriva Energy today announced the successful closing of approximately $540 million in financing for the Sullivan County Power Project. The 350 MW solar project, currently under construction in Sullivan County, Indiana, adds to Deriva’s portfolio of nearly 7 GW of operating assets across the country’s major power markets.
The financing was arranged by Deriva Energy’s Capital Markets team and includes commitments from leading financial institutions. The transaction supports the continued development and construction of the project and reflects the collaborative efforts of teams across Deriva, its financing partners and external advisors.
“We are pleased to close this financing for Sullivan County Power, our 350 MW solar project currently under construction in Indiana,” said Paul Tivnan, Chief Financial Officer of Deriva Energy. “The project’s quality and financing attributes resulted in strong demand from top-tier relationship banks and competitive terms, and we look forward to working together to bring Sullivan County Power to completion.”
The five-bank club consists of Royal Bank of Canada (RBC), DNB Bank ASA, Mizuho Bank LTD., National Westminster Bank PLC, and Wells Fargo Securities, LLC. RBC will serve as Administrative Agent and Collateral Agent. Skadden served as borrower’s counsel, and Milbank served as lenders’ counsel.
“Closing this financing reflects months of collaboration across Deriva, our lenders and external advisors,” said Thomas Hopkins, Senior Director and Head of Capital Markets & Treasury at Deriva Energy. “The transaction builds on financing structures we have successfully utilized across our portfolio and provides a framework we can apply to our extensive development pipeline.”
Upon completion, Sullivan County Power will be the largest project built by Deriva to date and represents a significant milestone in the company’s continued growth. The successful financing positions the project to move forward through construction and into commercial operation.
Contact: press@derivaenergy.com
About Deriva Energy
Deriva Energy is an established U.S. renewable IPP industry leader with 7 GWs of wind, solar, and storage assets operating and under construction and a robust late-stage multi-gigawatt pipeline of projects in development. A portfolio company of Brookfield — one of the world’s largest owners of renewable power assets — Deriva brings institutional backing and deep industry expertise to the clean energy transition. For more information about Deriva, visit derivaenergy.com.