Market Overview

WGL Energy Secures $75 Million Financing from M&T Bank

Share:

Funding will support WGL Energy's efforts to expand solar development
opportunities in the United States

WGL Energy Systems, Inc. (WGL Energy), a WGL company, announced that it
has secured a $75 million financing package from M&T Bank to provide
funding for future solar energy projects.

WGL Energy seeks to expand its renewable energy programs and will
partner with organizations across the country on these key solar energy
initiatives. The credit package provides WGL with the flexibility and
autonomy to choose between one and up to 30 projects to invest in, own
and operate. WGL Energy has more than 290 megawatts (MW) of distributed
generation projects installed or under contract across 21 states and the
District of Columbia.

Guidance and expertise was provided by M&T Bank's Commercial Equipment
Finance Division, which has a depth of experience in the energy industry
and particularly solar project financing.

"WGL Energy is looking forward to working with other energy innovators
throughout the county to expand our reach of diverse, renewable energy
solutions such as solar so more customers and communities can enjoy the
benefits of stabilized prices and lower carbon emissions," said Sanjiv
Mahan, President of WGL Energy. "M&T Bank was instrumental in providing
us with a creative and structured solution to our specific financing
needs."

"We are committed to providing solutions to help grow clean energy and
meet the project financing needs of our customers," said Eric Heintz,
Director of Energy Finance for M&T Bank. "As a community-focused bank,
M&T is dedicated to improving the quality of life for our customers,
colleagues and neighbors. Reducing the carbon content of our power
generation sources is critical to the future of energy globally."

About WGL and WGL Energy

The WGL family of companies − Washington Gas, WGL Energy, WGL Midstream
and Hampshire Gas − are now indirect, wholly-owned subsidiaries of
AltaGas Ltd (TSX:ALA). WGL is headquartered in Washington, D.C., and is
a leading source for clean, efficient and diverse energy solutions. With
activities and assets across the U.S., WGL provides options for natural
gas, electricity, green power and energy services, including generation,
storage, transportation, distribution, supply and efficiency. Our
calling as a company is to make energy surprisingly easy for our
employees, our community and all our customers. Whether you are a
homeowner or renter, small business or multinational corporation, state
and local or federal agency, WGL is here to provide Energy Answers. Ask
Us. For more information, visit us at wgl.com and @wglanswers.

WGL Energy delivers a full spectrum of energy offerings, including
electricity, natural gas, renewable energy, carbon reduction,
distributed generation and energy efficiency solutions provided by WGL
Energy Services, Inc. and WGL Energy Systems, Inc. To learn more, visit
us at www.wglenergy.com.
Follow us at @wglenergy on Twitter and WGL Energy on LinkedIn.

About M&T Bank

M&T Bank Corp. is a financial holding company headquartered in Buffalo,
New York. M&T's principal banking subsidiary, M&T Bank, operates banking
offices in New York, Maryland, New Jersey, Pennsylvania, Delaware,
Connecticut, Virginia, West Virginia and the District of Columbia.
Trust-related services are provided by M&T's Wilmington Trust-affiliated
companies and by M&T Bank.

View Comments and Join the Discussion!