Vesper Energy has finalized construction and term loan syndication for its Hornet Solar project, with investments totaling approximately $592 million. This project, located in Swisher County, Texas, spans over six square miles and will generate 600 MWac, powering 160,000 homes annually. It enhances grid stability and mitigates price volatility in ERCOT. Major banking partners, including MUFG Bank, Nord/LB, and Santander, have backed the project. The Hornet Solar project uses bifacial photovoltaic modules on a single-axis tracking system, with Blattner Energy leading the construction. The generated power is contracted to four off-take partners through Power Purchase Agreements.
Hornet Solar secures $592M funding
Hornet Solar project has secured major investment through debt syndication led by Vesper Energy. (Image Credit: Hornet Solar)
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)