Capital Dynamics’ Clean Energy Infrastructure (CEI) business has reached financial close on the 383-megawatt Eagle Shadow Mountain solar photovoltaic (PV) project located on the Moapa River Indian Reservation in Nevada.
Project financing consisted of $327 million in credit facilities led by MUFG Union Bank, including a $202 million construction-to-term loan facility.
“This project is a testament to our deep and collaborative relationships with both 8minute Solar Energy and the Moapa Band of Paiutes, and a meaningful addition to our rapidly growing portfolio of long-term contracted solar assets,” said Benjamin Droz, vice president of CEI at Capital Dynamics.
The project represents CEI’s third transaction with solar developer 8minute Solar Energy, which will continue to oversee the development of Eagle Shadow Mountain. It is expected to undergo an 18-month construction period, with completion scheduled for the end of 2021.
