Israel-based Enlight Renewable Energy announced the financial close of Project Roadrunner, a 290 MW solar and 940 MWh energy storage project near Tucson, Arizona. Debt financing included $550 million in construction loans from a consortium of four banks, converting into a $290 million term loan and $320 million tax equity funding upon COD. The project, built on a 1,200-acre site, has a 20-year PPA with Arizona Electric Power Cooperative, and is expected to generate $51-54 million in revenue and $41-44 million in EBITDA in its first year. Commercial operation is targeted by the end of 2025.
Enlight secured financing for Arizona’s 290 MW solar Project Roadrunner
Roadrunner project in Arizona secured funding to support its 20-year PPA with Arizona Electric Power Cooperative. (Image Credit/Source: coernl/Pixabay)
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