Santander Bank Fuels WTEC Energy’s Next Phase of Growth
October 5, 2026
Source: Santander Bank
Santander Bank (“Santander”) closed a $345 million asset-based revolving credit facility for WTEC, LLC (“WTEC”), providing additional working capital to support the New Jersey-based manufacturer’s continued growth across the renewable energy, grid modernization, data center, and AI infrastructure sectors.
Santander’s Commercial Bank served as administrative agent, joint lead arranger and joint bookrunner, partnering with a group of four banks to structure the financing.
The transaction marks the latest milestone in a strategic relationship that began in 2005, when Santander first provided WTEC with a $100,000 working capital line of credit.
Headquartered in Hasbrouck Heights, New Jersey, WTEC was founded in 2002 and has grown into a leading manufacturer of electrical cables, wires, and steel products. The company operates more than 12 manufacturing facilities spanning approximately 2 million square feet, supporting customers across the U.S. and internationally.
“We're proud to deepen our partnership with WTEC as the company continues to expand its manufacturing footprint and meet growing demand. Supporting ambitious middle-market companies like WTEC is central to our strategy, and we're excited to help position them for their next chapter of growth.” - Ellen Marshall, Head of Corporate & Middle Market Banking at Santander
"As Lead Bank, we’re honored by the long-term relationship we’ve built with the WTEC team. We look forward to continuing our partnership as the company executes on its strategic objectives and expands its market share across the energy and infrastructure sectors.” - Anthony Selvaggio, head of New York and New Jersey Corporate & Middle Market Banking at Santander
“The expansion of our credit facility reflects the strength of WTEC, LLC's business platform and the trust we have built with Santander over many years. This additional financial flexibility supports our continued investment in U.S. manufacturing, innovation, and customer service across the renewable energy, utility, infrastructure, and rapidly growing data center markets. We appreciate Santander's partnership and confidence in WTEC's future.” - Bonita Singh, Chief Financial Officer at WTEC
About Santander BankSantander Bank, N.A. is one of the country’s leading retail and commercial banks. The Bank’s customers are principally located in Massachusetts, New Hampshire, Connecticut, Rhode Island, New York, New Jersey, Pennsylvania, Delaware, and Florida. The Bank is a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN), recognized as one of the world’s most admired companies by Fortune Magazine in 2026, with more than 182 million customers in the U.S., Europe, and Latin America. Santander Bank is overseen by Santander Holdings USA, Inc., Banco Santander’s intermediate holding company in the U.S. For more information on Santander Bank, please visit www.santanderbank.com.
About WTEC, LLC
Founded in 2002, WTEC, LLC is a leading U.S.-based manufacturer of wire, cable, steel, communications, and renewable energy infrastructure solutions serving the renewable energy, utility, infrastructure, industrial, OEM, communications, and rapidly growing data center markets. With more than 30 years of industry experience, WTEC employs over 1,000 professionals and operates 15 manufacturing facilities supported by a network of 13 strategic locations across North America, Latin America, Europe, and Asia.
WTEC’s vertically integrated manufacturing platform includes its Steel, Wires & Cables, OEM, Collection Systems, Commercial & Industrial, 4S (Self-Supporting Solar Solutions), and Torque Tube divisions, enabling the company to deliver comprehensive solutions to some of the largest renewable energy and infrastructure projects in the United States.
The company operates state-of-the-art manufacturing facilities across the United States and maintains a global manufacturing, sourcing, and distribution footprint that supports customers worldwide. WTEC is ISO 9001 certified and a certified Minority Business Enterprise (MBE), recognized for its commitment to quality, innovation, customer service, and sustainable growth. Through continued investment in domestic manufacturing and advanced technologies, WTEC remains a trusted partner for critical energy and infrastructure projects worldwide.
