Invenergy locks debt for 2nd phase of 1.3-GW solar giant in Texas
The Southern Oak Solar Energy Center in Georgia. Source: Invenergy
Chicago-based Invenergy LLC said today it has finalised construction financing for the 250-MW second phase of the 1,310-MW Samson Solar Energy Center in Texas.
To be located in northeast Texas, the USD-1.6-billion (EUR 1.32bn) project is set to create the US’ largest photovoltaic (PV) complex. The capacity will be installed in five phases. Currently, its first and second ones are under construction, while the entire capacity is scheduled to be switched on in 2023.
Construction financing for the project’s second phase includes a construction loan, letter of credit facility, and back-leverage term loan. Spanish Banco Santander SA acted as administrative agent, coordinating lead arranger and bookrunner of the transaction, while Societe Generale and CaixaBank were joint lead arrangers.
Invenergy obtained construction financing for the 250-MW first phase of the Samson scheme in January.
Once fully operational, the Samson Solar Energy Center in Lamar, Red River, and Franklin Counties will be capable of producing enough electricity for about 300,000 homes. Its output is contracted by three Texas municipalities through long-term power purchase agreements (PPA).
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.