Announced 14 May, the financing was closed with MUFG Bank, Ally Bank, Nomura Securities International, Norddeutsche Landesbank Girozentrale, and Societe Generale. Image: McCarthy via YouTube
Independent power producer (IPP) Sunraycer Renewables has closed a US$901 million project financing facility, supporting three solar-plus-storage projects in Texas, US.
Announced 14 May, the financing was closed with MUFG Bank, Ally Bank, Nomura Securities International, Norddeutsche Landesbank Girozentrale, and Societe Generale.
Sunraycer also noted that this facility, comprised of a construction-to-term loan, a tax credit bridge loan, and a letter of credit facility, is its second portfolio financing in approximately 12 months and brings total capital raised across project finance and tax equity to about US$1.6 billion during that period.
Proceeds from the financing will support the construction and operation of three Sunraycer projects in Texas, totaling 479.5MW of solar PV generation and 236.5MW of paired two-hour battery energy storage systems (BESS). The projects are further detailed in the table below.
