June 10, 2021
Invenergy Completes Construction Financing for Second Phase of America’s Largest Solar Project
CHICAGO (June 10, 2021) – Invenergy, a leading privately-held global developer and operator of sustainable energy solutions, today announced the completion of construction financing for the second phase of the Samson Solar Energy Center in northeast Texas. The second phase includes 250 megawatts of the total 1,310-megawatt project, which will be the largest solar energy facility in the United States upon completion.
Santander acted as Admin Agent, Coordinating Lead Arranger, and Bookrunner, and Societe Generale and CaixaBank acted as Joint Lead Arrangers for the financing, which includes a construction loan, letter of credit facility, and back-leverage term loan. Construction financing for the first phase of the project was announced in January 2021.
“Invenergy is proud to complete construction financing for the second phase of the Samson Solar Energy Center,” said Anneli Alers, Vice President, Finance and Capital Markets at Invenergy. “A significant step forward in the completion of the record-setting project, this milestone is a testament to Invenergy’s strong relationships and long-standing track record with our financial partners.”
Located in Lamar, Red River, and Franklin Counties, Samson Solar is being constructed in five phases, with each phase commencing operation upon completion. The first and second phases are currently under construction, and the full project is slated to be operational in 2023. The complete 1,310-megawatt project will generate enough electricity to power 300,000 American homes.
Announced in November 2020, Samson Solar supports the sustainability objectives of five major consumer brands and will supply cost-effective, reliable power to three Texas municipalities through long-term power purchase agreements (PPA).
Samson Solar is a $1.6 billion capital investment in Northeast Texas. Over the life of the project, Samson Solar will directly invest $450 million in the local economy through new tax revenues and lease payments to participating landowners.
We are innovators building a sustainable world. Invenergy and its affiliated companies develop, own, and operate large-scale sustainable energy generation and storage facilities in the Americas, Europe and Asia. Invenergy's home office is located in Chicago, and it has regional development offices in the United States, Canada, Mexico, Colombia, Japan, Poland and Scotland. Invenergy has successfully developed more than 27,000 megawatts of projects that are in operation, construction or contracted, including wind, solar, and natural gas power generation facilities as well as advanced energy storage projects. For more information, please visit www.invenergy.com.
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