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Cubico reaches fin close on 105-MW N Carolina solar project

Source: Cypress Creek Renewables (www.ccrenew.com).

June 17 (Renewables Now) - London-based renewable energy investor Cubico Sustainable Investments has achieved financial close on a 105-MW under-construction solar project in North Carolina.

Cubico said in a statement on Friday that the scheme is part of a 580-MW portfolio, which it bought from project developer Cypress Creek Renewables at the start of this year and the second one from the acquired five projects reaching financial close. All assets of the portfolio are planned to become operational by the fourth quarter of 2020.

Germany's Nord/LB and Spanish Banco Santander (BME:SAN) extended debt financing for the project. Construction of the photovoltaic (PV) facility is already ongoing in North Carolina’s Pender County and its commissioning is scheduled for later this year. Cypress Creek is in charge of building the plant, the given capacity of which is in direct current (DC).

Cubico is backed by two of Canada’s largest pension investment managers -- PSP Investments and Ontario Teachers’ Pension Plan.

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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