National Grid closes tax equity funding for 200 MW solar project in USA

National Grid Renewables announced the closing of US$98 million in tax equity financing from Bank of America to support its Prairie Wolf Solar Project. Bank of America is the sole tax equity investor for the project.

The 200 megawatts (MW) solar energy project located in the Midcontinent Independent System Operator (MISO) market began construction earlier this year in Coles County, Illinois. 

Prairie Wolf is estimated to offset carbon dioxide emissions by 285,000 metric tons annually during operation. The solar project will also benefit local and statewide economies through the production of new tax revenue, the creation of jobs, and increased local spending.

Todd Karas, managing director, Renewable Energy Finance at Bank of America, said: "The financing of the Prairie Wolf Solar Project will help bring much needed renewable energy to the grid in this region and support a more sustainable community."