Invenergy safeguards cash for 200MW United States solar build

• Calhoun is its very first PV scheme in the state of Michigan

Invenergy has finished term and also building and construction financing for the 200MW Calhoun Solar project, its very first PV project in the state of Michigan.

CoBank, Natixis, as well as Export Development Canada served as lead arrangers for the financing, that includes a construction funding that converts into a back-leverage term loan, sponsor swing loan, and letter of credit facility.

Located in Calhoun County, the project is presently incomplete and also set up to begin business procedure in 2022.

It will certainly support around 300 jobs throughout the construction duration.

Invenergy elderly vice head of state and financing and also funding markets Anneli Alers said: "Invenergy is proud to attain construction funding for the Calhoun Solar project, a crucial action in bringing our initial solar project in Michigan to fulfillment.

" The competitive credit facility structure for this project is a testament to Invenergy's funding abilities and also strong track record with our valued loan provider partners."

Invenergy has entered into 3 different lasting power purchase agreements (PPA) with Michigan-based energies for the output of the Calhoun Solar project.

Consumers Energy will purchase 140MW, Michigan Public Power Agency will acquire 50MW, and Lansing Board of Water & Light will certainly acquire 10MW.

Invenergy prides itself on finding unique structures to bring wind as well as solar projects to completion with its customers, having gotten with a selection of counterparties consisting of energies, wholesale providers, and commercial as well as commercial (C&I) power purchasers across the US to support their initiatives and target markets within their sustainability goals.