Sample Vitality Group has closed an $11 billion non-recourse financing and began full development of SunZia Transmission and SunZia Wind.
Collectively, it’s the largest clear vitality infrastructure venture in U.S. historical past, says the corporate.
SunZia Transmission is a 550 mi., 525 kV HVDC transmission line between central New Mexico and south-central Arizona with the capability to move 3,000 MW of electrical energy throughout Western states. It is going to ship energy generated by Sample Vitality’s 3,515 MW SunZia Wind facility, being constructed throughout New Mexico’s Torrance, Lincoln, and San Miguel Counties.
Collectively, it’s the largest clear vitality infrastructure venture in U.S. historical past, says the corporate.
Financing contains an built-in development mortgage and letter of credit score facility, two separate time period services, an working section letter of credit score facility, an modern tax fairness time period mortgage facility and a holding firm mortgage facility.
“Our hope is that this profitable financing of the biggest clear vitality infrastructure venture in American historical past serves for instance for different formidable renewable infrastructure initiatives which can be wanted to speed up our transition to a carbon free future,” says Hunter Armistead, CEO of Sample Vitality.
“We’re very grateful to all of our monetary companions who’re backing SunZia as a part of this record-setting venture financing. Development is effectively underway on this historic venture that may ship clear energy with a technology profile that enhances considerable photo voltaic technology out there throughout the Western United States. We’d particularly prefer to thank our shareholders for his or her help of Sample’s efforts to ship this essential venture and meaningfully advance the world’s vitality transition.”
The EPC Contractor of the transmission line is Quanta Infrastructure Providers Group and the HVDC provider is Hitachi Vitality. The EPC contractor for the wind venture is Blattner Vitality, a Quanta affiliated firm. The wind generators are being equipped by GE Vernova and Vestas.
SunZia Transmission and Sample Vitality have partnered with the New Mexico Renewable Vitality Transmission Authority on the event of the transmission venture in New Mexico.
