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.
The company currently operates 50 MW of solar capacity and has 283 MW in development in the Valencian region. (Image Source: Castillo Engineering)
Annual output of 1.6B kWh from DMEGC’s fishery-PV project saves 496,400 tons of coal and cuts 1.2 million tons of CO2 emissions. (Image Source: DMEGC Solar)
The company currently operates 50 MW of solar capacity and has 283 MW in development in the Valencian region. (Image Source: X-ELIO)
The Mockingbird Solar Center invests $500 million in renewable energy and creates 550 jobs in Texas. (Image Credit/Source: MarkStebnicki/Pexels)