Chicago-based Invenergy has completed construction financing for the first phase of its Samson Solar Energy Center in Texas.
The initial phase includes 250 MW of the total 1.31 GW project, which is slated to be among the largest solar energy facilities in the United States upon completion.
Santander acted as admin agent, coordinating lead arranger, and bookrunner. Societe Generale and CaixaBank acted as joint lead arrangers for the financing, which includes a construction loan, letter of credit facility, and back-leverage term loan.
Invenergy called the step a “significant milestone” in bringing the project to life. Financial details were not disclosed.
Located in Lamar, Red River, and Franklin counties, Samson Solar is planned to commence operation in five phases. With the first phase currently under construction, the full project is slated to be operational in 2023.
Announced in November 2020, Samson Solar supports the sustainability objectives of five major consumer brands, including AT&T and McDonald’s, and will supply power to three Texas municipalities through long-term power purchase agreements.
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