Greenwood Sustainable Infrastructure (GSI), the North American renewable energy subsidiary of Libra Group, has reached financial close on a construction-to-term facility and an investment tax credit bridge financing for its 100 MWac Turning Sun solar project. The financing totals more than $200 million and supports the development, construction, and long-term operation of the project. The Turning Sun solar project is a 100 MWac/129 MWdc utility-scale solar project located in Saskatchewan, Canada, within the traditional territory of the Ocean Man Nakoda and the Rural Municipality of Estevan.
The project will operate under a 25-year power purchase agreement with SaskPower, the province’s primary electricity provider. Road construction for the project commenced in the fourth quarter of 2025. The transaction was executed in collaboration with The Ocean Man First Nation. Royal Bank of Canada acted as administrative agent, green loan structuring agent, coordinating lead arranger, and lender, while Desjardins Group served as coordinating lead Arranger and lender. Barton Malow has been appointed as the engineering, procurement, and construction contractor. The build schedule for the project is expected to span 18 months.
In December 2025, GSI announced the successful refinancing of a 26 MWdc solar portfolio comprising six projects across New York, Vermont, and Florida. The refinancing totals approximately $22 million, with the loan carrying a six-year term with a 20-year amortisation schedule and maturing in 2031.
