Arlington, Virginia-based independent power producer Energix Renewables said it has secured USD 520 million (EUR 478.3m) to finance six utility-scale solar projects in the US with a combined capacity of 416 MW DC.
The financing has been arranged in two separate transactions expected to involve a consortium of lenders. It includes a USD-260-million construction and term loan facility led by Santander Corporate & Investment Banking and a tax equity commitment of the same amount led by Morgan Stanley Renewables Inc.
The secured funds will help finance the construction and operation of the solar sites. The projects are located in Virginia and Pennsylvania and will feed the produced power to local grids, according to a statement published on Thursday.
