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Cubico closes financing for 3rd solar project from 580-MW portfolio

Solar modules. Featured Image: Jackiso/Shutterstock.com

July 16 (Renewables Now) - London-based renewable energy investor Cubico Sustainable Investments has achieved financial close on the 100-MW Huntley solar photovoltaic (PV) project in South Carolina.

US Bank provided tax equity, while project finance debt came from HSBC, Rabobank and Nord/LB. These lenders were also the ones that financed the Palmetto solar project in the same county, Orangeburg, last year.

Construction work on the Huntley scheme has already been initiated and the plant is seen to go online in the summer of 2020.

This is the third asset within a five-project portfolio totalling 580 MW that was acquired by Cubico from Cypress Creek Renewables in January 2019. A month ago, the renewables investor said it had reached financial close on the second project from that portfolio -- a 105-MW solar plant in North Carolina.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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