DESRI, in partnership with Ranger Power has announced the financial closure and start of construction for the Heartwood and White Tail solar projects in Michigan. The Heartwood Solar facility has a capacity of 150 MWac and is located in Hillsdale County. White Tail Solar project has a capacity of 140 MWac and is situated in Washtenaw County.
Heartwood Solar has secured a power purchase agreement (PPA) with Consumers Energy and is scheduled to commence commercial operations in 2026. Meanwhile, White Tail Solar has signed PPAs with the Lansing Board of Water and Light and MPPA, with commissioning targeted before the end of 2025.
Furthermore, construction financing for both projects was arranged by a consortium of lenders. Fifth Third Bank and Zions Bancorporation acted as Coordinating Lead Arrangers, while Bank of America, Commerzbank, and Sumitomo Mitsui Trust Bank, New York Branch, served as Joint Lead Arrangers.
