Energix Renewables Secures US$520 Million for Six US Projects
Independent power producer (IPP) Energix Renewables has secured US$520 million for six utility scale solar projects that are expected to generate 416MW of electricity. The six projects are located in California, Georgia, Arizona, and Nevada, and are expected to be completed by 2021. According to the company, the projects are expected to generate enough energy to power over 100,000 homes.
The Projects
The six projects are located in California, Georgia, Arizona, and Nevada. The largest project is the 200MW Las Vegas Solar Park, located in Nevada. The other five projects are located in:
- California: 100MW Imperial Solar Project
- Georgia: 50MW Georgia Solar Park
- Arizona: 30MW Arizona Solar Park
- California: 20MW Imperial Solar Project II
- California: 16MW Imperial Solar Project III
Financing for the Projects
Energix Renewables has secured US$520 million in financing from a consortium of banks and other financial institutions. The consortium includes:
- Bank of America
- Credit Suisse
- ING
- JP Morgan
- Santander
The financing is structured as a combination of debt and equity, and will be used to fund the construction and operation of the projects. The debt portion of the financing includes a US$400 million term loan and a US$120 million revolving credit facility.
Benefits of Solar Power
Solar power has many advantages over other sources of energy. It is a clean, renewable source of energy that does not produce any greenhouse gases or other pollutants. Solar power is also relatively inexpensive to produce, and can be used to offset the cost of electricity from other sources.
In addition, solar power is becoming increasingly cost-competitive with other sources of energy. This is due to advances in technology, as well as the increasing availability of financing for solar projects. As more financing becomes available, the cost of solar power will continue to decrease.
Maximizing Solar Investment
Energix Renewables is an experienced solar developer and investor. The company has successfully developed and financed hundreds of solar projects around the world. It has a deep understanding of the solar industry, and has developed a comprehensive approach to maximizing solar investments.
The company’s approach includes a focus on project development, financing, and operations. It also includes a focus on maximizing returns for investors, while minimizing risk. The company has a track record of success, and its projects have consistently achieved strong returns for investors.
For more information on how to maximize your solar investment, check out this article.
Conclusion
Energix Renewables has secured US$520 million in financing for six utility scale solar projects. The projects are located in California, Georgia, Arizona, and Nevada, and are expected to generate 416MW of electricity. The financing is structured as a combination of debt and equity, and will be used to fund the construction and operation of the projects.
Solar power has many advantages over other sources of energy, and is becoming increasingly cost-competitive. Energix Renewables has a deep understanding of the solar industry, and has developed a comprehensive approach to maximizing solar investments.