BayWa r.e. Raises $115 Million Afresh For Solar+ Storage Projects

May 3, 2023 01:11 PM ET
  • The firm has actually secured a $115-million credit facility with worldwide economic services solid Nomura for its utility-scale solar as well as solar+ storage projects in the US.
  • The credit facility will at first support projects completing 1.1 GW of solar and also 188 MWh of battery storage.
BayWa r.e. Raises $115 Million Afresh For Solar+ Storage Projects

North American solar developer BayWa r.e. has actually secured a $115-million credit facility with global monetary services firm Nomura to support the growth of utility-scale solar and also solar+ storage projects in the United States.

BayWa r.e. stated that the credit facility will initially support projects amounting to 1.1 GW of solar and 188 MWh of battery storage in states consisting of North Carolina, Illinois, Kentucky, Arkansas, and Washington.

The credit facility consists of a revolving credit facility and also letter of credit to provide financing for the expansion of projects across a number of jurisdictions. Nomura was the lead arranger of the credit facility.

The projects will be brought online by BayWa r.e. beginning in 2024 through 2026. Fred Robinson, CEO at BayWa r.e. Solar Projects, specified," We are dedicated to our recurring collaboration with like-minded, sustainability-driven companions to create cutting-edge financing solutions that will certainly accelerate the fostering of clean energy throughout the United States."

" Nomura is delighted to supply its global intellectual and economic funding by supplying a bespoke funding service to BayWa r.e. in an effort to support its development in the USA," commented Vinod Mukani, Global Head of Nomura's Infrastructure and also Power Business.

He added, "As an international leader in the cleaner power market, BayWa r.e. is an excellent client for Nomura and we are thrilled to remain to support their efforts in growing their eco-friendly pipeline."

"As a leading clean energy financier and customer-focused establishment, we're pleased to support BayWa r.e., among the leading developers and drivers in the renewable resource area," stated Alain Halimi, an Executive Director of Nomura's IPB.

As additional projects are added to the profile, the credit facility is anticipated to be upsized in the coming months.

BayWa r.e., lately constructed central Europe's largest floating solar PV array covering a location of 14 hectares on two man-made lakes in Austria as well as the project has a capacity of 24.5 MWp.

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