CIT Group’s power and energy business has arranged nearly $210 million in financing for a solar project in Texas.
Located in the Greater Houston power market, Brazoria West Solar Project is a utility-scale solar project with 260 megawatts of direct-current-generation capacity. The project was developed by Savion, an affiliate of Macquarie’s Green Investment Group, and was sold to S&B US Energy Inc., subsidiary of global Israeli infrastructure and real estate company Shikun & Binui.
Construction is under way on the solar project, with commercial operation slated for 2022.
“Brazoria West Solar Project is an exciting opportunity to help support the growing demand for solar power in the Houston area while also contributing to the region’s economic development,” said Nick Lincon, president of Savion. “The Savion team is pleased to have played a key role in making this project possible.”
