BlackRock’s GIP Leads $250 Million Upsize, Lifting Budderfly Debt Facility to $550 Million

Overview

• Budderfly expanded its debt facility to $550 million through a $250 million upsizing led by Global Infrastructure Partners, with Vantage participating and Nuveen remaining a key lender.
• The facility includes a $100 million accordion feature that gives the company added room to fund more customer projects as demand grows.
• Budderfly’s Energy‑as‑a‑Service model pays 100% of upfront costs, installs and operates equipment like solar, HVAC, LEDs and controls, and gets repaid from a contracted share of the energy savings.
• The company says the capital will speed solar and efficiency upgrades for U.S. mid‑market businesses such as restaurants and retailers, where it already manages more than 7,500 sites with no upfront cost for customers.
• Owning and controlling onsite equipment lets Budderfly aggregate devices into a virtual power plant that delivers real‑time demand response across CAISO, ISO‑NE, PJM and SPP, while a growing IP portfolio and more than $1 billion in cumulative capital support further scale.