Hornet Solar secures $592M funding

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.