US$590 million debt financing secured for 600 MW Solar project in USA
Vesper secured a US$590 million debt financing package for the 600 MWac (745 MWdc) Hornet solar project in Swisher County, West Texas, USA.
The project is being developed by Blattner Energy and will utilize bifacial photovoltaic modules on a single axis tracking system covering more than six sq miles. The solar facility will generate enough energy to power 160,000 homes annually. The asset will deliver renewable energy to communities throughout Texas, provide grid stability, and mitigate price volatility in ERCOT. T
The package consists of a construction-to-term loan and letter of credit facility. The bank group includes MUFG Bank Ltd., Nord/LB and Santander Corporate & Investment Banking as coordinating lead arrangers, BayernLB as joint lead arranger, and Associated Bank as lender.
The debt financing leverages PTC transfer funding made possible by provisions under the Inflation Reduction Act. Vesper Energy was advised by CCA Capital on the sourcing and structuring of the PTC transfer commitment.
Country news
-
-
January 25, 2024
Contract secured for inter-array cables for 704 MW offshore wind farm in USA
The Correll Group has secured a contract with Hellenic Cables for the termination and testing of inter-array cables on the wind turbine generators and offshore substation for the 704 MW Revolution Wind offshore wind farm in the US.
Read more -
January 04, 2024
Origis Energy closes US$344 million financing for 200 MW Solar project in USA
Origis Energy announced the close of a US$344 million construction financing facility and conversion to term loan with MUFG, for its Golden Triangle I solar plus battery energy storage project in the USA.
Read more -
December 11, 2023
US$568 million loan support to CIF’s Clean Technology Fund (CTF)
United States Treasury has supported the Climate Investment Funds (CIF) through a new US$568 million loan to CIF’s Clean Technology Fund (CTF).
Read more -
December 01, 2023
US$1.3 billion financing closed for a 682 MW Solar project in the USA
Excelsior Energy Capital announced that it has closed a USD1.3 Billion financing package on the 682.5 MW Faraday Solar project in Utah County, Utah, USA.
Read more -
November 27, 2023
SDCL closed USD711 million Energy Efficiency Infra Fund
Sustainable Development Capital LLP (SDCL) has closed its energy efficiency infra fund at its EUR 650 million target (USD 711 million).
Read more
