The Oriana Solar Project, funded by Advantage Capital’s investment, will span 1,100 acres and include 425,000 solar modules. (Image Source: Advantage Capital)
Advantage Capital has committed $137 million to Sabanci Renewables, the North American subsidiary of Turkey-based Sabanci Holding, to finalize funding for the Oriana Solar Project in Texas. The project, located 120 miles southeast of San Antonio, will generate 232 MW (DC) of solar energy. Sabanci Renewables claims this investment, leveraging tax credits from the Inflation Reduction Act, provides the final capital needed to complete the project. Scheduled to be operational by Spring 2025, it will feature 425,000 solar panels over 1,100 acres, supplying power to 65,000 homes. The project will create 300 construction jobs and 10 permanent roles. This marks the second tax equity financing partnership in Texas between the two companies, bringing Sabanci Renewables’ combined energy capacity in ERCOT to over 500 MW (DC).
Scatec has secured EUR 25 million from IFU, alongside equity and non-recourse debt, for its USD 85 million project financing. (Image Source: Scatec ASA)
EliTe Solar launched its 5 GW PV project in Egypt’s TEDA Suez Zone, set to begin production by September 2025. (Image Source: PRNewswire)
Part of SECI’s 2 GW ISTS initiative, the project will deliver four hours of peak power daily for 25 years. (Image Credit/Source: Pixabay/Pexels)
Ethical Power Italia’s first EPC projects in Italy, two solar farms for Encavis AG, will generate 28 GWh annually. (Image Credit/Source: TomFisk/Pexels)