Tax equity shut for Innergex's 200-MW Amazon Solar Farm Ohio

• Canada-based Innergex Renewable Energy Inc (TSE: INE) today revealed conclusion of the tax equity funding of the 200-MW Amazon Solar Farm Ohio-- Hillcrest in Brown County, Ohio, which has actually remained in commercial operation given that May this year.

The project, previously referred to as just Hillcrest, is marketing its power as well as environmental qualities under a long-lasting company power purchase arrangement (PPA) with "a financial investment grade ranked United States company."

Hillcrest, which got to monetary enclose May 2020, has a long-lasting resources structure that includes a USD-74.9-million 7-year term loan offered by a lender group led by CIT Group, a USD-112.7-million tax equity financial investment by Wells Fargo's Renewable Energy and also Environmental Money group and USD 120.1 million in enroller equity.

The facility is currently Ohio's biggest operating solar farm, according to the news. It uses greater than 600,000 Initial Solar Series 6 thin film photovoltaic or pv (PV) solar panels and is anticipated to create an average of 413.3 GWh a year.

Innergex acquired the project in October 2018 from the initial designers, Open up Road Renewables LLC and Eolian.