Exus Renewables North America (Exus) has completed $308.2 million financing for several utility-scale renewable energy projects in US. The transactions involve the 185 MW Zia solar power solar portfolio located in New Mexico and the 169 MW Keystone wind portfolio situated in Pennsylvania.
The company obtained $149.6 million for Zia Solar Power’s portfolio, which includes nine operational solar farms across New Mexico. The portfolio has a capacity of 185 MW and is backed by long-term power purchase agreements (PPAs) with public service company of New Mexico, Central New Mexico Electric Cooperative, Columbus Electric Cooperative, and City of Rio Rancho. The PPAs will span for 20-25 years from commercial operation. Further, ING Capital and PNC Capital Markets LLC led the financing.
The Keystone wind portfolio consists of the 139 MW Twin Ridges project and 30 MW Patton project in Pennsylvania. For the wind portfolio, Exus completed $158.6 million in financing. Additionally, KeyBanc Capital Markets served as coordinating lead arranger, while Credit Agricole Corporate and Investment Bank and Societe Generale acted as joint lead arrangers.
