Solar Leeward Renewable lines up financing for two solar pv projects Renewable Energy World 11.28.2022 Share Dallas-based Leeward Renewable Energy said it closed around $420 million in construction-to-term financing from MUFG Bank Ltd. and a $195 million tax equity commitment from Wells Fargo for its Big Plain Solar Facility in London, Ohio and its Oak Trail Solar Facility near Moyock, North Carolina. MUFG served as the green loan structuring agent, coordinating lead arranger and administrative agent, arranging financing commitments from eight financial institutions and Export Development Canada. The debt was issued under the Green Loan Principles, which aim to facilitate and support environmentally sustainable economic activity. The Big Plain and Oak Trail Solar facilities are currently under construction and, when completed, are expected to provide a combined 296 MW of renewable energy capacity to Verizon Communications under a long-term power purchase agreement. Both projects are expected to reach commercial operation by mid-2023. Big Plain will use First Solar thin-film photovoltaic solar modules. The project will connect to First Energy Corp.’s transmission system via a new 138KV substation. SOLV Energy is the engineering, procurement and construction contractor (EPC). Oak Trail also will use First Solar pv modules, and Blue Ridge Power serves as the EPC contractor. Related Posts Solar companies raised $34B in 2023, most in a decade National Grid petition seeks retroactive cost increases from multiple solar projects The Pentagon will install rooftop solar panels as Biden pushes clean energy in federal buildings Texas grid survives, thwarting NIMBYs, and companies turn to ‘greenhushing’ — This Week in Cleantech
