CIT Group Inc.’s power and energy business has coordinated some $200 million in financing for the 149-megawatt Big River solar-power project in Illinois.
The project sponsor is D. E. Shaw Renewable Investments (DESRI), a provider of cost-effective renewable energy across North America.
CIT Group said the project’s 149 megawatts of alternating current power are contracted under multiple power-purchase agreements for most of the next two decades.
“Illinois electricity customers are seeing the value of clean, renewable power generation and we are proud to play a role in helping provide that resource,” said Thomas de Swardt, CCO of DESRI. “We look forward to the successful completion of this project and to pursing new opportunities throughout the region.”
