Paz Oil, Arava Power, and Menora Mivtachim secure a $144M tax equity bridge loan for the 272 MW Sunray Project in Texas. The project qualifies for a 10% community energy adder under the Inflation Reduction Act. The financing, supported by a major US financial institution and a leading technology company, aids project construction and operation. Nomura Securities International served as sole bookrunner and arranger, structuring a unique financing solution for the entry of Arava Power, Paz Oil, and Menora into the US market.
Paz Oil and Partners secure $144M financing for Texas Pv power project
The Sunray project is expected to be in full operation and start generating electricity by the middle of 2024. Image Credit Pexels.
Aiming to support Malaysia’s 31% renewable goal by 2025, Masdar’s study could pave the way for large-scale floating solar in Southeast Asia. (Image Source: Masdar)
Avangrid’s Camino Solar project will generate power for approximately 14,000 US homes and is expected to create $15 million in local tax revenue. (Image Source: Avangrid)
Poland’s solar sector is set to benefit from Suntech’s advanced TOPCon modules under a new 200 MW distribution partnership. (Image Source: Suntech/ Linkedin)
Telecrown’s order from RRP Semiconductor includes silicon solar cells and polycrystalline materials for Maharashtra’s growing renewable energy sector. (Image Credit/Source: fietzfotos/Pixabay)