Leeward shuts financing on Texan PV project
- Green loan of US$ 75m as well as tax credit commitment of US$ 105m safeguards Horizon solar farm
Leeward Renewable Energy has closed around US$ 75m in building and construction to call financing and also a roughly US$ 105m tax equity commitment from Wells Fargo for its Horizon solar center located in Frio County, Texas.
MUFG Bank functioned as the green loan structuring agent, coordinating lead arranger, as well as administrative agent for the building to label funding, organizing financing commitments from eight banks and also Export Development Canada (EDC).
The financial debt was released under the Green Loan Principles, which intend to facilitate as well as sustain eco sustainable economic activity.
The funding for the Horizon solar facility is an expansion of LRE's previously introduced funding for its Big Plain and also Oak Trail solar projects.
This will certainly be LRE's fifth solar project in the country and also the 2nd solar project in Texas, after Barilla Solar in Reeves County.
Leeward senior vice president of finance Chris Loehr stated: "We are pleased to shut financing on our Horizon project, and also we appreciate the continued self-confidence from our financial institutions as we grow our solar portfolio.
" This landmark complies with the successful development of our just recently revealed Big Plain and Oak Trail solar projects and more demonstrates our long-lasting commitment to excellence as well as capability to provide on our pipe of gotten projects.
" We highly value our monetary companions' ongoing depend on and support, especially under terms that assist advancement as well as improve LRE's ecological as well as social initiatives."
