CIT Group Inc.’s Power and Energy business has coordinated $256 million in financing for the 250-megawatt Taygete I Energy Project in Pecos County, Texas.
The project is owned by 7X Energy, Inc., a utility-scale solar developer, owner and asset manager that has originated 1,350 megawatts of operational or under construction solar projects in Texas. 7X Energy also has a pipeline of more than 4 gigawatts across the United States.
Swinerton Renewable Energy completed construction of the Taygete I Energy Project, which is expected to come online in early 2021. Long-term power-purchase agreements have been signed with J. Aron & Company, a subsidiary of Goldman Sachs and an S&P A-rated entity.
“Texas is a robust market for renewable energy, and we are pleased to add Taygete I to the state’s solar generation capacity,” said Clay Butler, CEO of 7X Energy. “CIT has established themselves as a Texas solar financing thought-leader, and their involvement w
