Leeward Renewable Energy (LRE) has closed approximately $420 million in construction to term financing from MUFG Bank Ltd. and a $195 million tax equity commitment from Wells Fargo for its Big Plain Solar Facility located in London, Ohio, and its Oak Trail Solar Facility located near Moyock, N.C.
The Big Plain and Oak Trail Solar facilities are under construction and when completed will provide a combined 296 megawatts of renewable energy to Verizon Communications under a long-term power-purchase agreement. Both projects are expected to reach commercial operation by mid-2023.