Swift Current closes financing for 266 MWdc solar PV project in Texas

Swift Current Energy has secured financing for its Tres Bahias Solar project in Southeast Texas, USA, with ING Capital serving as sole lead arranger, bookrunner, and green loan structuring agent. Morgan Stanley Renewables has provided a tax equity commitment for the project, while First Solar will supply the solar panels. IEA Constructors will manage the construction of the project.

The transaction was structured in accordance with the new U.S. Inflation Reduction Act policy guidance. The 266 MWdc (195 MWac) Tres Bahias Solar project is located in Calhoun County, which has a history of large-scale energy projects. Swift Current will own and operate the solar project over the long term.

Swift Current's project financing and tax equity commitment will allow the company to continue its work in developing renewable energy projects across the country. The Tres Bahias Solar project, once operational, is expected to contribute significantly to the renewable energy capacity of Texas and the USA, and to reduce carbon emissions from electricity generation. It is expected to begin operations by the end of 2023.