sPower closes $700 million financing for a 620 MW solar project

SPower, a leading renewable energy independent power producer, has closed a term loan financing of over $700 million for the construction of a 620 MW solar project in Spotsylvania county, Virginia. The solar project is currently under construction and is expected to be fully commissioned by 2021. In this deal, nine separate banks committed the capital needed for the construction of the solar project. With this deal, the financing for the project has now been completed. The full financing package for the solar project exceeds $1 billion.

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