Eolian, a U.S.-based investor in renewable energy projects and a portfolio company of Global Infrastructure Partners (GIP), has announced the closing of a $515 million renewable energy green loan.

The company said the financing was secured by its diverse group of eligible green projects developed over the past two decades.

The financing saw investments from Banco Santander, Mitsubishi UFJ Financial Group (MUFG), National Australia Bank, Natixis Corporate and Investment Banking, and Sumitomo Mitsui Banking Corporation (SMBC).

The financing is aligned with the four pillars of the Green Loan Principles, jointly published in February this year by the Asia Pacific Loan Market Association, the Loan Market Association, and the Loan Syndications and Trading Association, the company said in a statement.

J.C. Kreutz, Co-Head of Global Structured Finance, Americas at SMBC, said, “SMBC appreciates the opportunity to provide Eolian with financing that helps expand the use of green, renewable power in the U.S. We look forward to supporting Eolian in its continuing efforts to expand green generation and create additional value in this crucial sector.”

Eolian’s CEO Aaron Zubaty said, “The closing of this long-term financing with a club of five premier global lenders validates the broad appeal of Eolian as a sponsor and of its uniquely diversified and compelling clean energy portfolio. The expansion of our lending group will provide additional sources of capital to advance and scale our decarbonization strategies in the years ahead.”

Eolian has funded the development of more than 21 GW of operating energy storage, solar, and wind generating capacity across the U.S. to date.

The company recently closed the first-of-its-kind tax equity investment in two standalone utility-scale battery storage projects with 200 MW capacity in Mission, Texas.

Earlier this year, Aypa Power, a developer and owner of utility-scale energy storage and hybrid renewable projects, acquired two standalone battery energy storage projects in Indiana from Blue Steel, a joint venture between Eolian and Open Road Renewables.

Last December, Saudi Arabia’s Public Investment Firm and GIP acquired a 9.5% stake in Germany-based offshore wind developer and operator Skyborn Renewables.