News & Insights
Photo courtesy of: Greg Land
Kentucky Infrastructure Partners (KIP) has closed the agreement through the issuance of tax-exempt Senior Revenue Bonds (Series 2026A), with an approximate par amount of $242M, alongside sponsor equity and other funding sources forming pat of the overall $580M capital structure.
KIP is led by Plenary Americas and Walsh Investors, with a Walsh-Turner joint venture acting as design-builder, and Noresco as the operations & maintenance provider.
The project involves the design, construction, financing, operation, and maintenance of a new, state of the art central utility plant, along with significant upgrades to the university’s district energy distribution systems.
Construction work can now begin on site, with completion expected in 2029.
Provident Resources Group, through its affiliate PRG Wildcats, is the borrower providing the financing. Brailsford & Dunlavey acts as advisor to the university on the transaction, with Fasken serving as an advisor to the developer.
