Vesper Vitality has introduced the closing of financing for its 600 MW Hornet Photo voltaic venture in Texas.
The corporate secured a $590 million debt financing bundle for the single-phase photo voltaic venture, consisting of a construction-to-term mortgage and letter of credit score facility. The financial institution group consists of MUFG Financial institution, Nord/LB and Santander Company & Funding Banking as coordinating lead arrangers, BayernLB as joint lead arranger and Related Financial institution as lender.
“Closing venture financing and a long-term buy settlement for the PTCs on a big venture in west Texas is complicated,” says Vesper Vitality CFO, Robert Scheuermann. “We’re proud to put money into Hornet Photo voltaic alongside top-tier lenders and buyers. This closing is a testomony to the worth Vesper Vitality generated within the asset.”
With a nameplate capability of 600MW, the corporate says the venture will make the most of bifacial PV modules on a single axis monitoring system in addition to interconnect to Oncor Electrical’s transmission system in ERCOT.
Blattner Vitality is establishing the Hornet Photo voltaic venture. The facility generated by the venture is contracted to 4 off-take companions by particular person PPAs.
Vesper Vitality was suggested by CCA Capital on the sourcing and structuring of the PTC switch dedication.
