Smoky Mountain Holdings LLC Closes Landmark $435 Million Financing

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NEW YORK & KNOXVILLE, Tenn.--(BUSINESS WIRE)--Aug 14, 2025--

Argo Infrastructure Partners, LP (“Argo”) today announced the successful closing of a $435 million senior secured notes financing on behalf of Smoky Mountain Holdings LLC (“Smoky”), a joint venture between Argo and Brookfield comprised of the Smoky Mountain Hydroelectric facilities: the Cheoah, Calderwood, Chilhowee, and Santeetlah hydroelectric dams.

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Jason Zibarras; Brice Soucy

The transaction for US$435 million of Senior Secured Notes is the first financing of this nature completed in the US Private Placement market, combining fixed and variable amortization features. The financing closely follows the 10-year power purchase agreement with Tennessee Valley Authority (“TVA”) signed in 2024 that will deliver over 14 GWh of homegrown carbon-free hydroelectric energy and avoid more than 11 million tons of CO2 emissions for TVA’s customers over the next ten years.

“ We’re proud to have closed this first-of-its-kind financing structure, which reflects Smoky's status as a best-in-class, flexible and dispatchable clean energy portfolio. As digitalization, artificial intelligence, and advanced industries redefine the future of energy demand for TVA, this transaction not only fortifies the nation’s energy grid but also powers the next wave of innovation, delivering the reliable, low-carbon energy that will shape tomorrow’s economy and the technological breakthroughs of the future,” said Brice Soucy, Argo Director at Smoky.

“This innovative investment grade financing represents another step in supporting clean energy in the Tennessee Valley and the resilient, low-carbon energy that the AI economy demands,” said Jason Zibarras, Founder and Managing Partner of Argo Infrastructure Partners. “This project demonstrates our and Smoky’s commitment to innovation, powering economic growth, and U.S. leadership in the global AI ecosystem.”

Argo Infrastructure Partners

Argo Infrastructure Partners LP, founded by Jason Zibarras, is an independent fund manager with a long-term approach to infrastructure investing. Argo invests in high-quality infrastructure businesses and assets that provide essential services to their communities over their long operational lives, including investments in utilities, renewable energy, digital infrastructure, and other long duration infrastructure assets. Argo’s investment philosophy couples sound investment return with responsible and sustainable investing. As of July 2025, Argo manages over ~$6.5 billion in assets on behalf of its investor partners. For more information, visit www.argoip.com.

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CONTACT: Media:

Ira Gorsky

Edelman Smithfield

[email protected]

KEYWORD: NORTH AMERICA UNITED STATES IRELAND UNITED KINGDOM EUROPE NEW YORK TENNESSEE

INDUSTRY KEYWORD: OTHER ENERGY UTILITIES SUSTAINABILITY ENVIRONMENT FINANCE ENERGY ASSET MANAGEMENT PROFESSIONAL SERVICES

SOURCE: Argo Infrastructure Partners LP

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PUB: 08/14/2025 04:05 PM/DISC: 08/14/2025 04:07 PM

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