2022:
2023:
2024:
2025:
| Expansion | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Loans | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Underwriting | 2022 | 2023 | 2024 | 2025 | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Duke Energy CorporationDuke Capital Financing Trust I, Duke Capital Financing Trust II, Duke Energy Capital Trust II, Duke Energy Carolinas LLC, Duke Energy Florida LLC, Duke Energy Florida Project Finance LLC, Duke Energy Indiana LLC, Duke Energy Kentucky Inc, Duke Energy Ohio Inc, Duke Energy Progress LLC, PROGRESS CAPITAL HOLDINGS INC, Progress Energy Inc (based on GCEL 2025) | $68M | $71M | $75M | $59M | $80M | $67M | $63M | $71M | $148M | $138M | $138M | $130M | $554M | |||||||||||||||
| Mitsubishi CorporationMitsubishi Corporation Finance PLC (based on GCEL 2025) | power | $95M | $136M | $93M | $130M | $5M | $95M | $136M | $98M | $130M | $459M | |||||||||||||||||
| Evergy IncAquila Capital LP, Evergy Kansas Central Inc, Evergy Kansas South Inc, Evergy Metro Inc, Evergy Missouri West Inc (based on GCEL 2025) | $34M | $71M | $134M | $13M | $58M | $44M | $30M | $47M | $130M | $178M | $30M | $384M | ||||||||||||||||
| The Southern CompanyAlabama Power Capital Trust I, Alabama Power Capital Trust II, Alabama Power Capital Trust III, Alabama Power Capital Trust V, Alabama Power Co, Georgia Power Capital LP, Georgia Power Capital Trust, Georgia Power Capital Trust II, Georgia Power Capital Trust III, Georgia Power Capital Trust V, Georgia Power Capital Trust VI, Georgia Power Capital Trust VII, Georgia Power Co, Southern Co Capital Funding Inc, Southern Co Capital Trust I, Southern Co Capital Trust II, Southern Co Capital Trust III, Southern Co Capital Trust IV, Southern Co Capital Trust V, Southern Co Capital Trust VI, Southern Company Gas Capital Corporation (based on GCEL 2025) | $57M | $36M | $49M | $64M | $70M | $30M | $48M | $64M | $127M | $67M | $97M | $355M | ||||||||||||||||
| Tohoku Electric Power Co Inc | $148M | $27M | $26M | $42M | $69M | $25M | $9M | $217M | $53M | $34M | $42M | $345M | ||||||||||||||||
| Ameren CorporationUnion Electric Co (based on GCEL 2025) | $72M | $104M | $89M | $34M | $47M | $72M | $34M | $104M | $136M | $345M | ||||||||||||||||||
| Berkshire Hathaway IncBerkshire Hathaway Energy Company, BNSF Railway Co, Bridger Coal Co, Burlington Northern Santa Fe LLC, MidAmerican Energy Co, PacifiCorp, PacifiCorp Capital Corp, PacifiCorp Capital I, PacifiCorp Capital II, PacifiCorp Financial Services Inc, Sierra Pacific Power Co (based on GCEL 2025) | $88M | $86M | $78M | $83M | $3M | $6M | $88M | $89M | $78M | $88M | $343M | |||||||||||||||||
| PPL CorporationKentucky Utilities Co, LG&E and KU Energy LLC, Louisville Gas & Electric Co, PPL Capital Funding Inc (based on GCEL 2025) | $36M | $71M | $98M | $30M | $96M | Not On GCEL Change in Company Structure | $134M | $30M | $167M | $331M | ||||||||||||||||||
| American Electric Power Company Inc (AEP)AEP Credit Inc, AEP Generating Co, Appalachian Power Co, Indiana Michigan Power Co, Kentucky Power Co, Ohio Power Co, Public Service Co of Oklahoma, Southwestern Electric Power Company, Wheeling Power Co (based on GCEL 2025) | $111M | $16M | $49M | $55M | $24M | $65M | $111M | $71M | $73M | $65M | $321M | |||||||||||||||||
| RWE AGRWE Finance US, LLC, RWE Power AG (based on GCEL 2025) | $19M | $46M | $76M | $32M | $51M | Not On GCEL Change in Company Structure | $46M | $76M | $173M | |||||||||||||||||||
| Alliant Energy CorporationAlliant Energy Finance LLC, Interstate Power and Light Co, Wisconsin Power and Light Company (based on GCEL 2025) | $16M | $38M | $25M | $23M | $15M | $54M | Not On GCEL Change in Company Structure | $38M | $53M | $79M | $171M | |||||||||||||||||
| CenterPoint Energy IncHouston Industries Financeco LP, Reliant Energy Finance Co III, SIGECO Securitization I LLC, Southern Indiana Gas and Electric Company, Vectren Capital Corp, Vectren LLC (based on GCEL 2025) | $44M | $58M | $68M | $44M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $125M | $169M | ||||||||||||||||||||
| FirstEnergy CorpGPU CAPITAL INC, Monongahela Power Co (based on GCEL 2025) | $48M | $31M | $31M | $26M | $34M | Not On GCEL Change in Company Structure | $74M | $31M | $65M | $169M | ||||||||||||||||||
| Xcel Energy IncNorthern States Power Co - Minnesota, Public Service Company of Colorado, Southwestern Public Service Capital I, Southwestern Public Service Company (based on GCEL 2025) | $44M | $50M | $23M | $4M | $38M | $44M | $23M | $4M | $88M | $159M | ||||||||||||||||||
| CMS Energy CorpConsumers Energy Co, Consumers Energy Co Finance III, Consumers Energy Co Financing IV, Consumers Power Co Financing I (based on GCEL 2025) | $21M | $49M | $21M | $26M | $14M | $21M | $42M | $26M | $14M | $70M | $152M | |||||||||||||||||
| JERA Co IncHitachinaka Generation Co Ltd, Jera Global Markets Pte Ltd (based on GCEL 2025) | $69M | $6M | $52M | $6M | $17M | $52M | $75M | $23M | $150M | |||||||||||||||||||
| Idemitsu Kosan Co LtdBoggabri Coal Operations Pty Ltd, Boggabri Coal Pty Ltd, Idemitsu Australia Pty Ltd (based on GCEL 2025) | mining | $56M | $36M | $18M | $17M | $8M | $64M | $36M | $18M | $17M | $136M | |||||||||||||||||
| DTE Energy CompanyDTE CAPITAL CORP, DTE Electric Co (based on GCEL 2025) | $11M | $12M | $32M | $60M | $20M | $23M | $32M | $60M | $20M | $135M | ||||||||||||||||||
| Sasol LtdSasol Financing International Ltd, Sasol Financing (Pty) Ltd, Sasol Financing USA LLC, Sasol Mining Pty Ltd (based on GCEL 2025) | mining | $100M | $19M | $9M | $19M | $109M | Not On GCEL Change in Company Structure | $127M | ||||||||||||||||||||
| Chugoku Electric Power Co IncEnergia Power Yamaguchi Co Ltd (based on GCEL 2025) | power | $52M | $9M | $34M | $25M | $9M | $34M | $25M | $52M | $120M | ||||||||||||||||||
| Glencore PLCBulga Coal Management Pty Ltd, Carbones del Cerrejon Ltd, Finges Investment BV, Glencore Australia Holdings Pty Ltd, Glencore Capital Finance DAC, Glencore Finance (Bermuda) Ltd, Glencore Finance (Canada) Ltd, Glencore Finance (Europe) Ltd, Glencore Funding LLC, Glencore Group Funding Ltd, Glencore International AG, Glencore (Schweiz) AG, Hail Creek Joint Venture , Rolleston Coal Holdings Pty Ltd, Ulan Coal Mines Ltd, Wandoan Holdings Pty Ltd (based on GCEL 2025) | power, mining | $15M | $93M | $7M | $15M | $93M | Not On GCEL Change in Company Structure | $7M | $115M | |||||||||||||||||||
| OGE Energy CorpOG&E Financing I, Oklahoma Gas and Electric Company (based on GCEL 2025) | $17M | $16M | $8M | $30M | $13M | $25M | $17M | $45M | $21M | $25M | $108M | |||||||||||||||||
| Fortis IncTucson Electric Power Co, UNS Energy Corporation (based on GCEL 2025) | $4M | $14M | $12M | $13M | $19M | $21M | $17M | $8M | $23M | $35M | $29M | $21M | $107M | |||||||||||||||
| Aurizon Holdings LtdAurizon Finance Pty Ltd (based on GCEL 2025) | $94M | $94M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $94M | |||||||||||||||||||||||
| Pinnacle West Capital CorpArizona Public Service Co (based on GCEL 2025) | $24M | $28M | $17M | $19M | Not On GCEL Change in Company Structure | $24M | $45M | $19M | $88M | |||||||||||||||||||
| TransAlta CorporationTransAlta Centralia Generation LLC (based on GCEL 2025) | $23M | $24M | $35M | $4M | $23M | $24M | $35M | $4M | $85M | |||||||||||||||||||
| NiSource IncNiSource Capital Markets, Inc., NiSource Finance Corp, Northern Indiana Public Service Company LLC (based on GCEL 2025) | $13M | $27M | $14M | $11M | $18M | $13M | $14M | $11M | $45M | $82M | ||||||||||||||||||
| Kyushu Electric Power Co Inc | $12M | $29M | $13M | $14M | $41M | $13M | $14M | $67M | ||||||||||||||||||||
| NRG Energy IncNRG Finance Co I LLC (based on GCEL 2025) | $27M | $19M | $ | $9M | $8M | $2M | Not On GCEL Change in Company Structure | $36M | $27M | $3M | $66M | |||||||||||||||||
| Origin Energy LtdOrigin Energy Finance Ltd (based on GCEL 2025) | $23M | $42M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $23M | $42M | $64M | |||||||||||||||||||||
| IDACORP IncIdaho Power Co (based on GCEL 2025) | $12M | $12M | $26M | $2M | $8M | $12M | $38M | $2M | $8M | $59M | ||||||||||||||||||
| Hokuriku Electric Power Company | $56M | $ | $1M | $56M | $ | $1M | $58M | |||||||||||||||||||||
| Hokkaido Electric Power Co IncThe Tomatoh Coal Center Co Inc (based on GCEL 2025) | $14M | $24M | $15M | $14M | $24M | $15M | $53M | |||||||||||||||||||||
| The AES CorporationAES Andes SA, AES Argentina Generacion SA, AES Indiana, AES Mong Duong Power Co Ltd, AES Ohio, DPL Capital Trust II, DPL Inc, Empresa Electrica Angamos SpA, Empresa Electrica Cochrane SpA, IPALCO ENTERPRISES INC, Mong Duong Finance Holdings BV (based on GCEL 2025) | $18M | $4M | $2M | $29M | $18M | Not On GCEL Change in Company Structure | $6M | $29M | $53M | |||||||||||||||||||
| Dominion Energy IncVirginia Electric and Power Co, Dominion Energy South Carolina Inc (based on GCEL 2023) | $19M | $15M | $19M | $15M | $38M | Not On GCEL Change in Company Structure | $53M | |||||||||||||||||||||
| Shikoku Electric Power Co Inc | $44M | $3M | $3M | $44M | $3M | $3M | $51M | |||||||||||||||||||||
| TXNM EnergyTXNM Energy, NM CAPITAL UTILITY CORP, Public Service Co of New Mexico (based on GCEL 2024) | $14M | $10M | $8M | $12M | $14M | $8M | $22M | $44M | ||||||||||||||||||||
| Sumitomo CorporationPT Central Java Power, Sumitomo Corp Capital Netherlands BV, Sumitomo Corporation Capital Europe PLC, Van Phong Power Co Ltd (based on GCEL 2025) | $13M | $14M | $10M | $2M | $4M | $13M | $17M | $10M | $2M | $42M | ||||||||||||||||||
| Sojitz CorporationSojitz Development Pty Ltd (based on GCEL 2025) | mining | $40M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $40M | $40M | |||||||||||||||||||||
| BHP Group LtdBHP Billiton Finance BV, BHP Billiton Finance Ltd, BHP Billiton Finance plc, BHP Billiton Finance (USA) Ltd, BHP Finance Ltd, Hunter Valley Energy Coal Pty Ltd, WMC Finance (USA) Ltd (based on GCEL 2025) | mining | $29M | $11M | Not On GCEL Change in Company Structure | $29M | Not On GCEL Change in Company Structure | $11M | $40M | ||||||||||||||||||||
| WEC Energy Group IncElm Road Generating Station Supercritical LLC, Wisconsin Electric Power Company, Wisconsin Public Service Corporation (based on GCEL 2025) | $28M | $8M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $37M | $37M | |||||||||||||||||||||
| J-POWER (Electric Power Development Co Ltd)J-Power Australia Pty Ltd, J-POWER Generation Service Co Ltd (based on GCEL 2025) | power | $12M | $11M | $13M | $11M | $25M | Not On GCEL Change in Company Structure | $36M | ||||||||||||||||||||
| Pacific National Holdings Pty LtdPacific National Finance Pty Ltd (based on GCEL 2025) | $7M | $5M | $21M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $29M | $5M | $34M | ||||||||||||||||||||
| San Miguel CorporationLimay Power Corp, Mariveles Power Generation Corp, Masinloc Power Partners Co Ltd, San Miguel Global Power Holdings Corp (based on GCEL 2025) | power | $6M | $6M | $7M | $11M | $6M | $6M | $7M | $11M | $29M | ||||||||||||||||||
| The Kansai Electric Power Company Inc (KEPCO) | $10M | $2M | $16M | $10M | $2M | $16M | $29M | |||||||||||||||||||||
| PT Indonesia Asahan AluminiumPT Huadian Bukit Asam Power, PT Bukit Asam Tbk, PT Bukit Asam Prima, PT Bukit Pembangkit Innovative, PT Internasional Prima Coal (based on GCEL 2023) | power | $28M | Not On GCEL Change in Company Structure | $28M | Not On GCEL Change in Company Structure | $28M | ||||||||||||||||||||||
| Black Hills CorpWyodak Resources Development Corp (based on GCEL 2025) | $7M | $13M | $2M | $4M | Not On GCEL Change in Company Structure | $13M | $9M | $4M | $25M | |||||||||||||||||||
| AGL Energy LtdAGL Loy Yang Pty Ltd (based on GCEL 2025) | $21M | Not On GCEL Change in Company Structure | $21M | Not On GCEL Change in Company Structure | $21M | |||||||||||||||||||||||
| PT Mineral Industri Indonesia (Persero)PT Bukit Asam Tbk (based on GCEL 2025) | infrastructure | $21M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $21M | $21M | ||||||||||||||||||||||
| Trafigura Group Pte LtdTrafigura Group Pte Ltd (based on GCEL 2023) | 0 | $12M | $9M | $12M | $9M | Not On GCEL Change in Company Structure | $21M | |||||||||||||||||||||
| Okinawa Electric Power Co Inc | $7M | $4M | $7M | $7M | $4M | $7M | $18M | |||||||||||||||||||||
| WHA Utilities & Power Public Co Ltd | $18M | Not On GCEL Change in Company Structure | $18M | Not On GCEL Change in Company Structure | $18M | |||||||||||||||||||||||
| Oglethorpe Power Corporation | $14M | $5M | Not On GCEL Change in Company Structure | $14M | $5M | $18M | ||||||||||||||||||||||
| EnBW Energie Baden-Württemberg AGEnBW International Finance BV (based on GCEL 2025) | $3M | $14M | $14M | Not On GCEL Change in Company Structure | $3M | $18M | ||||||||||||||||||||||
| Avista Corp | $3M | $6M | $4M | $3M | $7M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $9M | $16M | |||||||||||||||||||
| Electricity Generating Authority of Thailand (EGAT) | power | $14M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $14M | $14M | |||||||||||||||||||||
| CSX Corp | $13M | Not On GCEL Change in Company Structure | $13M | Not On GCEL Change in Company Structure | $13M | |||||||||||||||||||||||
| Adani GroupAbbot Point Operations Pty Ltd, ACC Ltd, Adani Electricity Mumbai Ltd, Adani Energy Solutions Ltd, Adani Enterprises Ltd, Adani Global FZE, Adani Hazira Port Ltd, Adani Infra (India) Ltd, Adani Krishnapatnam Port Ltd, Adani Murmugao Port Terminal Pvt Ltd, Adani Ports and Special Economic Zone Ltd, Adani Power Dahej Ltd, Adani Power Ltd, Adani Rugby Run Finance Pty Ltd, Ambuja Cements Ltd, Anuppur Thermal Energy (MP) Pvt Ltd, Bowen Rail Co Pty Ltd, Bravus Mining and Resources, CG Natural Resources Pvt Ltd, Gare Pelma III Collieries Ltd, Jhar Mineral Resources Pvt Ltd, Kalinga Alumina Ltd, Katni Thermal Energy (MP) Ltd, Korba Power Ltd, Kutchh Power Generation Ltd, Mahan Energen Ltd, Mahanadi Mines and Minerals Pvt Ltd, MH Natural Resources Pvt Ltd, Mirzapur Thermal Energy (UP) Pvt Ltd, MP Natural Resources Pvt Ltd, Mundra Petrochem Ltd, North Queensland Export Terminal Pty Ltd, NQXT Capital Pty Ltd, Orissa Thermal Energy Ltd, Parsa Kente Collieries Ltd, Pench Thermal Energy (MP) Ltd, Talabira (Odisha) Mining Ltd, The Dhamra Port Co Ltd (based on GCEL 2025) | power, mining, infrastructure | $13M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $13M | $13M | |||||||||||||||||||||
| Vistra CorpDynegy Midwest Generation LLC, Luminant Mining Co LLC, Vistra Finance Corp (based on GCEL 2025) | $12M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $12M | $12M | |||||||||||||||||||||||
| Comision Federal de Electricidad EPE (CFE) | $8M | $3M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $8M | $3M | $12M | |||||||||||||||||||||
| Abu Dhabi National Energy Company PJSC (TAQA)CMS Generation Investment Company IV, TAQA Morocco SA, TAQA Neyveli Power Co Pvt Ltd (based on GCEL 2025) | $11M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $11M | $11M | |||||||||||||||||||||||
| Chubu Electric Power Company Inc | $5M | $ | $5M | $5M | $ | $5M | $11M | |||||||||||||||||||||
| Dedicated Freight Corridor Corp of India Ltd | infrastructure | $10M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $10M | $10M | ||||||||||||||||||||||
| Capital Power Corp | 0 | $10M | Not On GCEL Change in Company Structure | $10M | Not On GCEL Change in Company Structure | $10M | ||||||||||||||||||||||
| Jardine Cycle & Carriage LtdPT Astra International Tbk, PT Pamapersada Nusantara, PT Surya Artha Nusantara Finance, PT Tuah Turangga Agung, PT United Tractors Tbk (based on GCEL 2025) | $3M | $7M | $3M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $7M | $10M | |||||||||||||||||||||
| CITIC Group CorpCITIC Corp Ltd, CITIC Ltd, CITIC Pacific Energy Investment, CITIC Pacific Ltd, CNCB (Hong Kong) Invest Ltd, Jiangsu Ligang Electric POWER Co Ltd, Sunspark Power Investment Company Limited (based on GCEL 2025) | power | $9M | $9M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $9M | ||||||||||||||||||||||
| NorthWestern Energy Group IncNorthWestern Corp (based on GCEL 2025) | $8M | $8M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $8M | |||||||||||||||||||||||
| Enel SpAEnel Finance International NV, Enel Investment Holding BV, Endesa Financiacio?n Filiales SA, Enel Finance America LLC (based on GCEL 2023) | $6M | Not On GCEL Change in Company Structure | $6M | Not On GCEL Change in Company Structure | $6M | |||||||||||||||||||||||
| Nippon Coke & Engineering Co Ltd | $1M | $1M | $2M | $ | $1M | $1M | $2M | $ | $5M | |||||||||||||||||||
| Grasim Industries LtdAditya Birla Capital Ltd, UltraTech Cement Ltd (based on GCEL 2025) | mining | $4M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $4M | $4M | ||||||||||||||||||||||
| JSW Steel LtdJSW Utkal Steel Ltd, Mivaan Steels Ltd (based on GCEL 2025) | power, mining | $3M | Not On GCEL Change in Company Structure | $3M | Not On GCEL Change in Company Structure | $3M | ||||||||||||||||||||||
| China Three Gorges CorporationInner Mongolia Three Gorges Mengneng Energy Co Ltd, Three Gorges Bazhou Ruoqiang Energy Co Ltd, Three Gorges Capital Holdings Co Ltd, Three Gorges Finance I (Cayman Islands) Ltd, Three Gorges Finance II (Cayman Islands)Ltd (based on GCEL 2025) | power, mining | $3M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $3M | $3M | |||||||||||||||||||||
| Uniper SEUniper Kraftwerke GmbH (based on GCEL 2025) | $2M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $2M | $2M | |||||||||||||||||||||||
| MDU Resources Group IncMontana-Dakota Utilities Co (based on GCEL 2025) | $2M | Not On GCEL Change in Company Structure | $2M | Not On GCEL Change in Company Structure | $2M | |||||||||||||||||||||||
| TPI Polene Power Public Co Ltd | $ | $ | Not On GCEL Change in Company Structure | $ | $ | $1M | ||||||||||||||||||||||
| Marubeni Corporation | power | $1M | Not On GCEL Change in Company Structure | $1M | Not On GCEL Change in Company Structure | $1M | ||||||||||||||||||||||
| Mitsui Matsushima Holdings Co LtdMitsui Matsushima Australia Pty Ltd, Mitsui Matsushima Co Ltd (based on GCEL 2024) | $1M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $1M | $1M | |||||||||||||||||||||||
| National Power Supply Public Company LtdPT Utami Jaya Mulia (based on GCEL 2025) | mining | $ | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $ | $ | |||||||||||||||||||||
| Global Power Synergy Public Co LtdGlow Energy Public Co Ltd (based on GCEL 2025) | $ | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $ | $ |