Intersect secures US$2.6bn financing for energy portfolio in US

Intersect secures US$2.6bn financing for energy portfolio in US

22 Nov 2021

Intersect Power has secured US$2.6bn in financing for the construction and operations of 2.2GW solar power facilities with 1.4GWh of storage in the United States.

In this regard, the sustainable energy company has completed eight separate transactions to advance its six-project portfolio.

The projects, which are expected to commence operations in 2023, include Athos III, Oberon I and Oberon II in California and Radian, Lumina I and Lumina II in Texas.

According to Intersect Power, the transactions include construction financing, tax equity, land financing and portfolio-level term loan.

The construction financing proceeds of approximately US$800m will be used towards the 310MW + 453MWh BESS Athos III project in Riverside County and the 415MW Radian project in Brown County, according to the company.

The Athos III and Radian projects, which are currently under construction, are set to be completed by the end of 2022.

For more information, please visit EICDataStream.

Read more from Industry News
RWE wins concession for offshore wind project in Denmark
Read More
ABB to help decarbonise district heat supply in Denmark
Read More
Saudi Aramco awards contracts for Jafurah gas field development
Read More

Newsletter Sign Up

As a non-member, you can sign up for the EICOnline weekly bulletin free of charge. EIC Online delivers industry news direct to your mailbox. Subscribe here for the EIC’s free weekly newsletter.

First Name
Last Name
Company Name
Work Email
Job Title
Areas of Interest