US$180 million Financing received for 200 MW Solar PV project in USA

Leeward Renewable Energy (LRE) has closed approximately US$75 million in construction-to-term financing  and an approximately US$105 million tax equity commitment from MUFG Bank and Wells Fargo respectively for the 200 MWac Horizon solar photovoltaic (PV) project located in Frio County, Texas. The solar farm is currently under construction and is expected to generate enough electricity to power over 42,000 US homes annually.

Horizon will provide 200 MW of renewable energy to Verizon Communications under a long-term power purchase agreement. Once completed, it will expand LRE's generation of renewable energy capacity and mark another significant milestone in a growing portfolio of solar facilities. This will be LRE's fifth solar project in the US and the second solar project in Texas. The project is expected to reach commercial operation later in 2023.