Intersect Power closed $2.4 billion of financing commitments and allocated $675 million of previously announced commitments to build and operate four solar energy projects totaling 1.5 GW PV + 1.0 GWh BESS.
The deals represent construction financing, tax equity, operational letters of credit and a portion of previously announced portfolio-level term debt.
MUFG and Santander served as co-lead arrangers on the $1.6 billion construction financing with NORD/LB, KeyBanc Capital Markets, Helaba, CoBank, Bank of America, and Zions Bancorporation acting as Joint Lead Arrangers. CoBank ACB is providing operational letters of credit to the Oberon I & II and the Lumina II projects.
