Marathon Capital served as the Company’s exclusive financial advisor, supporting the successful execution of a comprehensive financing strategy that included:

• Construction-to-term debt financing provided by I Squared Capital
• A tax credit transfer agreement with a major insurance company 
• A REC offtake agreement, fully contracting all Renewable Energy Certificates generated by the project

Energy produced by Oystercatcher Solar will be sold on a merchant basis, reflecting the Company’s confidence in long-term energy price tailwinds in the ERCOT-N market, which is expected to experience significant load growth driven by rising data center demand.

“Marathon Capital partnered with the various stakeholders to deliver comprehensive guidance across debt, tax credit selection and placement and offtake options, as well as the resulting return analysis in support of the project’s sponsor. This transaction reflects a shared commitment to advancing clean energy projects, and we look forward to the continued success of our client.” – Wayne Chomitz – Director, Tax Credit Advisory - Marathon Capital

Akin Gump Strauss Hauer & Feld LLP served as legal counsel for Oystercatcher, Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel for tax credit buyer and White & Case LLP served as legal counsel for the lender.

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About I Squared Capital

I Squared Capital is a leading global infrastructure investor managing $50 billion in assets. ISQ builds and scales essential infrastructure businesses that deliver critical services to millions of people worldwide.

I Squared Capital Infrastructure Credit investment strategy targets both brownfield and greenfield projects and businesses across North America and Western Europe. ISQ Credit delivers flexible financing solutions & value-add services across power & renewables, energy & midstream, digital infrastructure, transport & logistics and other critical infrastructure businesses and sectors. Drawing on decades of experience, ISQ’s dedicated credit team evaluates opportunities across the capital structure and partners with infrastructure owners and developers to provide tailored capital solutions that support growth and enhance resilience. Today, I Squared Capital is among the leading private financiers for infrastructure projects.

Headquartered in Miami, ISQ’s global team of more than 300 professionals operates from offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney, and Taipei. Learn more at www.isquaredcapital.com