Construction Financing completed for 2nd phase of 1.31 GW solar project in USA

Invenergy has completed the construction financing for the second phase of the Samson Solar Energy Center in northeast Texas, USA.  The second phase includes 250 megawatts of the total 1,310 megawatt project, which will be the largest solar energy facility in the United States upon completion.

Santander acted as Admin Agent, Coordinating Lead Arranger and Bookrunner, and Societe Generale and CaixaBank acted as Joint Lead Arrangers for the financing, which includes a construction loan, letter of credit facility, and back-leverage term loan. 

Located in Lamar, Red River, and Franklin Counties, Samson Solar is being constructed in five phases, with each phase commencing operation upon completion. The first and second phases are currently under construction, and the full project is slated to be operational in 2023. The complete 1,310-megawatt project will generate enough electricity to power 300,000 American homes.

Samson Solar supports the sustainability objectives of five major consumer brands and will supply cost-effective, reliable power to three Texas municipalities through long-term power purchase agreements (PPA).

Samson Solar is a USD1.6 billion capital investment in Northeast Texas. Over the life of the project, Samson Solar will directly invest USD450 million in the local economy through new tax revenues and lease payments to participating landowners.