Nuveen has closed a $546 million preferred equity investment in SunZia, the largest renewable-energy infrastructure project in U.S. history, representing a landmark transaction in clean and critical infrastructure.
Developed by Pattern Energy, SunZia comprises a 3,650-megawatt wind project and a 550-mile high-voltage direct current transmission line delivering energy from New Mexico to Arizona and to customers across the western grid. The project, which is now fully operational, generates and delivers more power than the Hoover Dam. At full capacity, it is expected to deliver enough energy to power approximately 1 million American homes annually.
The investment was made through Nuveen Energy Infrastructure Credit (EIC), the firm’s infrastructure credit investment platform. This represents Nuveen EIC’s largest preferred tax equity allocation to date and serves as the cornerstone for the platform’s preferred investment strategy, which Nuveen EIC is launching to pro
