Engie concludes USD-800m financing for US renewables portfolio

Engie North America Inc has completed USD 800 million (EUR 719m) in financing for a portfolio of recently-commissioned renewable energy plants totalling 665 MW.

The regional hub of French energy major Engie SA (EPA:ENGI) said in a statement on Thursday that it concluded tax equity financing for the 297.6-MW Iron Star and 302.4-MW Priddy wind projects, as well as equity financing for these same two wind parks plus the 65-MW Hawtree solar park.

Engie added that the financing package included long-standing tax equity relationships with Bank of America and Wells Fargo, while InfraRed Capital Partners (US) provided equity investments.

The Iron Star wind farm in Ford County, Kansas consists of 62 units of 4.8-MW turbines, while the Priddy facility uses 63 machines of the same size but installed at a site in Mills County, Texas. Hawtree, on the other hand, is a solar power plant located in Warren County, North Carolina.

Each of the three assets has a long-term power purchase agreement (PPA) in place. They are operated by a fully-owned affiliate of Engie and are part of the 4-GW-plus portfolio of renewable energy assets currently managed by the company across North America.

(USD 1.0 = EUR 0.898)

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