Sunraycer Renewables, a developer, owner and operator of clean energy power sites, has announced the closing of a $901 million project financing facility with MUFG Bank, Ally Bank, Nomura Securities International, Norddeutsche Landesbank Girozentrale (Nord/LB) and Societe Generale. This marks Sunraycer's second portfolio financing in approximately 12 months and brings total capital raised across project finance and tax equity to roughly $1.6 billion during that period.
The facility is comprised of a construction-to-term loan, a tax credit bridge loan and a letter of credit facility.
Proceeds from the financing will support the construction and operation of three Sunraycer projects in Texas, totaling 479.5 megawatt alternating currents of solar generation and 236.5 megawatt alternating currents of paired two-hour battery energy storage systems.
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