DALLAS, February 25, 2025 – PGIM Private Capital, provided $49 million of Senior Secured Notes to North Allegheny Wind Energy, LLC, for its North Allegheny Wind project (the “Project”), a 70 MW wind project located in Blair and Cambria counties of Pennsylvania. The Project achieved commercial operations in April 2024 following a successful repowering with Vestas turbines and sells power under a long-term power purchase agreement with a corporate offtaker. The Project is majority owned by Deriva Energy, LLC (formerly Duke Energy Renewables, LLC).

“We are proud to provide long-term financing for the North Allegheny Wind project and partner with Deriva Energy, LLC, an established owner and operator of renewable assets in the US. Our portfolio of renewable investments continues to grow across North America and Europe, totaling $4.2 billion (as of 9/30/24), demonstrating our knowledge and continued dedication to the sector,” said Ingrida Soldatova, Senior Principal of PGIM Private Capital’s Power Group.

Deriva Energy is an established owner and operator of renewable assets with an over 6.2 GW operating and under construction fleet of utility scale wind, solar and storage projects. PGIM Private Capital is a source of private debt for public and private companies and is the private capital arm of PGIM, the $1.4 trillion global investment management business of Prudential Financial, Inc. (as of 9/30/24) (NYSE: PRU).

“We were pleased with the partnership and PGIM Private Capital’s experience in financing renewable wind projects, as well as their ability to work together to structure a financing solution that fits the project needs and timeline. We look forward to working together on future transactions” said Christopher Maslanka, Senior Director of Capital Markets at Deriva Energy, LLC.

About Deriva Energy, LLC:

Deriva Energy is an established leader in clean energy, with 6,200 megawatts of operating assets and over 12,500 MW of assets in development across the U.S. Formerly known as Duke Energy Renewables, Deriva is a portfolio company of Brookfield, one of the world's largest owners and operators of renewable power and climate transition assets. Deriva is headquartered in Charlotte, North Carolina.

At Deriva Energy, our mission is to advance the transition to a sustainable, clean energy future and create value for our customers, investors and other stakeholders. We are proud to have some of the most talented, dedicated and knowledgeable people in the industry. Their diverse backgrounds and experiences help create a dynamic and exciting workplace that delivers great results every day. www.derivaenergy.com

About PGIM Private Capital:

For nearly 100 years, PGIM Private Capital has been partnering with a wide range of corporations, sponsors, and institutions to provide valuable insights and customized capital solutions that enable them to achieve their growth and funding goals. In an industry where capital can seem like a commodity and relationships are often fleeting and transactional, we are known for building enduring local partnerships based on a steady and patient commitment to our partners’ long-term capital needs. With regional teams in 15 offices around the world, we manage a portfolio of $108.5 billion for our partners (as of 9/30/24).