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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tohoku Electric Power Co Inc | $298M | $41M | $38M | $62M | $546M | $41M | $41M | $70M | $843M | $81M | $80M | $132M | $1,137M | |||||||||||||||
| Chugoku Electric Power Co IncEnergia Power Yamaguchi Co Ltd (based on GCEL 2025) | power | $75M | $572M | $51M | $158M | $46M | $109M | $51M | $158M | $122M | $681M | $1,012M | ||||||||||||||||
| 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 | $147M | $128M | $123M | $4M | $211M | $56M | $88M | $151M | $338M | $179M | $756M | ||||||||||||||||
| 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) | $82M | $71M | $75M | $95M | $35M | $72M | $46M | $105M | $117M | $142M | $121M | $200M | $581M | |||||||||||||||
| Kyushu Electric Power Co Inc | $166M | $64M | $29M | $36M | $136M | $41M | $32M | $45M | $302M | $106M | $61M | $81M | $550M | |||||||||||||||
| 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) | $36M | $74M | $48M | $61M | $51M | $51M | $41M | $64M | $88M | $125M | $89M | $125M | $427M | |||||||||||||||
| 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 | $90M | $93M | $108M | $44M | $90M | $93M | $165M | $392M | ||||||||||||||||||
| PPL CorporationKentucky Utilities Co, LG&E and KU Energy LLC, Louisville Gas & Electric Co, PPL Capital Funding Inc (based on GCEL 2025) | $58M | $130M | $68M | $8M | $29M | Not On GCEL Change in Company Structure | $66M | $130M | $96M | $293M | ||||||||||||||||||
| 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 | $56M | $49M | $74M | $111M | $56M | $49M | $74M | $290M | |||||||||||||||||||
| Hokuriku Electric Power Company | $15M | $39M | $165M | $12M | $23M | $16M | $180M | $12M | $62M | $16M | $269M | |||||||||||||||||
| 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 | $42M | $6M | $36M | $11M | $163M | $42M | $6M | $198M | $11M | $256M | |||||||||||||||||
| Ameren CorporationUnion Electric Co (based on GCEL 2025) | $36M | $89M | $29M | $53M | $47M | $36M | $29M | $53M | $136M | $254M | ||||||||||||||||||
| Hokkaido Electric Power Co IncThe Tomatoh Coal Center Co Inc (based on GCEL 2025) | $36M | $20M | $41M | $49M | $21M | $83M | $41M | $85M | $41M | $83M | $250M | |||||||||||||||||
| Okinawa Electric Power Co Inc | $13M | $16M | $147M | $14M | $22M | $26M | $147M | $14M | $35M | $42M | $239M | |||||||||||||||||
| Korea Electric Power Corporation (KEPCO)Korea East-West Power Co Ltd, Korea Midland Power Co Ltd, Korea South-East Power Co Ltd, Korea Southern Power Co Ltd, Korea Western Power Co Ltd (based on GCEL 2025) | power | $212M | Not On GCEL Change in Company Structure | $212M | Not On GCEL Change in Company Structure | $212M | ||||||||||||||||||||||
| JERA Co IncHitachinaka Generation Co Ltd, Jera Global Markets Pte Ltd (based on GCEL 2025) | $38M | $6M | $86M | $27M | $33M | $19M | $86M | $65M | $39M | $19M | $209M | |||||||||||||||||
| RWE AGRWE Finance US, LLC, RWE Power AG (based on GCEL 2025) | $53M | $33M | $46M | $76M | $53M | $33M | $46M | $76M | $208M | |||||||||||||||||||
| Mitsubishi CorporationMitsubishi Corporation Finance PLC (based on GCEL 2025) | power | $36M | $75M | $35M | $38M | $6M | $8M | $36M | $75M | $40M | $45M | $196M | ||||||||||||||||
| Alliant Energy CorporationAlliant Energy Finance LLC, Interstate Power and Light Co, Wisconsin Power and Light Company (based on GCEL 2025) | $14M | $16M | $50M | $33M | $26M | $15M | $39M | $14M | $42M | $65M | $72M | $193M | ||||||||||||||||
| Pinnacle West Capital CorpArizona Public Service Co (based on GCEL 2025) | $45M | $62M | $13M | $12M | $34M | $19M | $12M | $45M | $96M | $32M | $185M | |||||||||||||||||
| The Kansai Electric Power Company Inc (KEPCO) | $136M | $3M | $28M | $12M | $136M | $3M | $28M | $12M | $179M | |||||||||||||||||||
| 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) | $35M | $50M | $25M | $20M | $16M | $19M | $60M | $20M | $16M | $70M | $166M | |||||||||||||||||
| 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 | $13M | $41M | $14M | $17M | $34M | $41M | $14M | $66M | $156M | |||||||||||||||||
| Dominion Energy IncVirginia Electric and Power Co, Dominion Energy South Carolina Inc (based on GCEL 2023) | $109M | $9M | $37M | $9M | $146M | Not On GCEL Change in Company Structure | $155M | |||||||||||||||||||||
| WEC Energy Group IncElm Road Generating Station Supercritical LLC, Wisconsin Electric Power Company, Wisconsin Public Service Corporation (based on GCEL 2025) | $28M | $31M | $58M | $31M | Not On GCEL Change in Company Structure | $58M | $28M | $118M | ||||||||||||||||||||
| NiSource IncNiSource Capital Markets, Inc., NiSource Finance Corp, Northern Indiana Public Service Company LLC (based on GCEL 2025) | $10M | $20M | $27M | $15M | $15M | $18M | $10M | $34M | $15M | $45M | $103M | |||||||||||||||||
| OGE Energy CorpOG&E Financing I, Oklahoma Gas and Electric Company (based on GCEL 2025) | $17M | $16M | $8M | $24M | $12M | $11M | $17M | $40M | $20M | $11M | $88M | |||||||||||||||||
| J-POWER (Electric Power Development Co Ltd)J-Power Australia Pty Ltd, J-POWER Generation Service Co Ltd (based on GCEL 2025) | power | $26M | $36M | $5M | $18M | $26M | $36M | $5M | $18M | $85M | ||||||||||||||||||
| Trafigura Group Pte LtdTrafigura Group Pte Ltd (based on GCEL 2023) | 0 | $70M | $9M | $70M | $9M | Not On GCEL Change in Company Structure | $78M | |||||||||||||||||||||
| Sasol LtdSasol Financing International Ltd, Sasol Financing (Pty) Ltd, Sasol Financing USA LLC, Sasol Mining Pty Ltd (based on GCEL 2025) | mining | $48M | $19M | $9M | $19M | $57M | Not On GCEL Change in Company Structure | $76M | ||||||||||||||||||||
| DTE Energy CompanyDTE CAPITAL CORP, DTE Electric Co (based on GCEL 2025) | $11M | $5M | $16M | $23M | $21M | $15M | $16M | $23M | $21M | $76M | ||||||||||||||||||
| NorthWestern Energy Group IncNorthWestern Corp (based on GCEL 2025) | $17M | $16M | $8M | $19M | $15M | $17M | $34M | Not On GCEL Change in Company Structure | $23M | $74M | ||||||||||||||||||
| Shikoku Electric Power Co Inc | $43M | $6M | $6M | $11M | $43M | $6M | $6M | $11M | $66M | |||||||||||||||||||
| Australian Rail Track Corp Ltd (ARTC) | $5M | $58M | Not On GCEL Change in Company Structure | $5M | $58M | $63M | ||||||||||||||||||||||
| NRG Energy IncNRG Finance Co I LLC (based on GCEL 2025) | $27M | $16M | $ | $9M | $8M | $2M | Not On GCEL Change in Company Structure | $36M | $23M | $2M | $62M | |||||||||||||||||
| Idemitsu Kosan Co LtdBoggabri Coal Operations Pty Ltd, Boggabri Coal Pty Ltd, Idemitsu Australia Pty Ltd (based on GCEL 2025) | mining | $26M | $17M | $9M | $6M | $3M | $ | $29M | $17M | $9M | $6M | $61M | ||||||||||||||||
| 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 | $44M | $15M | Not On GCEL Change in Company Structure | $44M | $59M | |||||||||||||||||||||
| CSX Corp | $13M | $16M | $5M | $5M | $20M | $16M | $18M | $5M | $20M | $59M | ||||||||||||||||||
| Origin Energy LtdOrigin Energy Finance Ltd (based on GCEL 2025) | $31M | $27M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $31M | $27M | $58M | |||||||||||||||||||||
| TransAlta CorporationTransAlta Centralia Generation LLC (based on GCEL 2025) | $23M | $24M | $6M | $2M | $23M | $24M | $6M | $2M | $54M | |||||||||||||||||||
| Sojitz CorporationSojitz Development Pty Ltd (based on GCEL 2025) | mining | $40M | $4M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $45M | $45M | ||||||||||||||||||||
| 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 | $11M | $10M | $2M | $5M | $1M | $13M | $16M | $11M | $2M | $43M | |||||||||||||||||
| Comision Federal de Electricidad EPE (CFE) | $16M | $8M | $18M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $34M | $8M | $42M | ||||||||||||||||||||
| Chubu Electric Power Company Inc | $16M | $3M | $4M | $11M | $16M | $3M | $4M | $11M | $33M | |||||||||||||||||||
| 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 | $7M | $18M | Not On GCEL Change in Company Structure | $6M | $7M | $31M | |||||||||||||||||||
| Portland General Electric Co | $3M | $10M | $8M | $10M | Not On GCEL Change in Company Structure | $3M | $20M | $8M | $31M | |||||||||||||||||||
| Oglethorpe Power Corporation | $10M | $14M | $5M | Not On GCEL Change in Company Structure | $14M | $15M | $29M | |||||||||||||||||||||
| 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 | $9M | $18M | Not On GCEL Change in Company Structure | $9M | Not On GCEL Change in Company Structure | $18M | $26M | ||||||||||||||||||||
| 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) | $19M | $7M | $19M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $7M | $26M | |||||||||||||||||||||
| IDACORP IncIdaho Power Co (based on GCEL 2025) | $12M | $4M | $2M | $8M | Not On GCEL Change in Company Structure | $16M | $2M | $8M | $26M | |||||||||||||||||||
| Aurizon Holdings LtdAurizon Finance Pty Ltd (based on GCEL 2025) | $24M | $24M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $24M | |||||||||||||||||||||||
| CLP Holdings Co LtdCastle Peak Power Co Ltd, Castle Peak Power Finance Co Ltd, CLP Power Hong Kong Financing Ltd, CLP Power Hong Kong Ltd, EnergyAustralia Finance Pty Ltd, EnergyAustralia Pty Ltd (based on GCEL 2025) | $22M | $22M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $22M | |||||||||||||||||||||||
| 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 | |||||||||||||||||||||||
| ContourGlobal LtdContourGlobal Finance Holding S.a.r.l., ContourGlobal Finance Topco S.a.r.l., ContourGlobal Maritsa East 3 AD, ContourGlobal Power Holdings SA (based on GCEL 2025) | $13M | $7M | Not On GCEL Change in Company Structure | $13M | Not On GCEL Change in Company Structure | $7M | $20M | |||||||||||||||||||||
| State Grid Corporation of China (SGCC) | $20M | Not On GCEL Change in Company Structure | $20M | Not On GCEL Change in Company Structure | $20M | |||||||||||||||||||||||
| Black Hills CorpWyodak Resources Development Corp (based on GCEL 2025) | $7M | $9M | $2M | Not On GCEL Change in Company Structure | $9M | $9M | $18M | |||||||||||||||||||||
| Entergy Arkansas Inc | 0 | $5M | $8M | $5M | $8M | Not On GCEL Change in Company Structure | $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 | |||||||||||||||||||||||
| Pacific National Holdings Pty LtdPacific National Finance Pty Ltd (based on GCEL 2025) | $7M | $5M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $7M | $5M | $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 | |||||||||||||||||||||||
| PT Mineral Industri Indonesia (Persero)PT Bukit Asam Tbk (based on GCEL 2025) | infrastructure | $11M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $11M | $11M | ||||||||||||||||||||||
| 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 | ||||||||||||||||||||||
| 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 | |||||||||||||||||||||||
| JSW Steel LtdJSW Utkal Steel Ltd, Mivaan Steels Ltd (based on GCEL 2025) | power, mining | $3M | $3M | Not On GCEL Change in Company Structure | $3M | Not On GCEL Change in Company Structure | $3M | $5M | ||||||||||||||||||||
| Marubeni Corporation | power | $5M | Not On GCEL Change in Company Structure | $5M | Not On GCEL Change in Company Structure | $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 | ||||||||||||||||||||||
| Fortis IncTucson Electric Power Co, UNS Energy Corporation (based on GCEL 2025) | $4M | $4M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $4M | |||||||||||||||||||||||
| 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 | |||||||||||||||||||||||
| 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 | |||||||||||||||||||||||
| ALLETE IncBNI Energy Inc, Minnesota Power (based on GCEL 2025) | $ | $ | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $ |