NextDecade Corp. has secured debt financing to support the build-out of the company’s $18.4 billion Rio Grande LNG project in South Texas., according to a Sept. 20 news release.
Houston-based NextDecade Corp. entered into a credit agreement with a group of lenders for $356 million in senior loans to finance a portion of the first three liquefaction trains at Rio Grande LNG.
The disbursement of the senior loans enabled NextDecade to reduce commitments under Rio Grande LNG’s existing term loan facilities for the project’s first phase to less than $10.8 billion from $11.1 billion, the company said.
“This financing transaction aligns with NextDecade’s long-term balance sheet strategy for Phase 1, which includes extending and staggering debt maturities, diversifying sources of capital, reducing bank capital over time to provide potential capacity for financing future LNG expansions, and mitigating interest rate exposure,” the company said.
NextDecade announced a final investment decision (FID) to go forward with developing Phase 1 of Rio Grande LNG in July. The first phase calls for three liquefaction trains with a nameplate capacity of 17.6 million tonnes per annum (mtpa).
A second phase of construction planned at Rio Grande LNG—being developed in Brownsville, Texas—could eventually add two more trains, boosting the export facility’s capacity up to 27 mtpa.
2023-12-05 - Operations of Energy Dome’s thermos-mechanical energy storage facility is expected to begin in third quarter 2024.
2023-12-05 - Enfinity’s power plants will produce 172 GWh of clean electricity per year, enough to power 64,000 Italian homes and offset 69,000 tons of CO2 emissions.
2023-12-04 - In the “Wild West” of the carbon credit market, third-party validation and a minting process will help the nascent market, Houston-based Capturiant says.
2023-12-04 - TotalEnergies says the Mirny wind farm in Kazakhstan’s Zhambyl region will supply more than 1 million people with electricity.
2023-12-01 - Here is a look at some of this week’s renewable energy news, including the establishment of a $30 billion climate fund.