One Energy Enterprises LLC, a Findlay, Ohio-based provider of Wind for Industry solutions for large electricity consumers, has secured $80 million in financing from Prudential Capital Group.
Prudential Capital Group is the private placement arm of PGIM, the global investment management businesses of Prudential Financial Inc. The financing is a combination of senior and subordinated debt. For the deal, Duane Morris LLP represented One Energy, and Morgan, Lewis, & Bockius represented Prudential Capital Group.
Using its solution called Wind for Industry, One Energy works with large commercial and industrial energy users to provide on-site, behind-the-meter wind energy.
Though Prudential Capital Group has extensive experience investing in the energy industry, this deal marks Prudential’s first entry into financing within the multi-project commercial and industrial energy market, according to One Energy.
The financing will allow the company to continue growing its portfolio of projects throughout Ohio and the rest of the U.S. All of One Energy’s Wind For Industry projects use turbines supplied by Goldwind.
