MUFG and Nomura provide $388m for Greenalia’s solar Misae II in Texas

Mitsubishi UFJ Financial Group (MUFG) and Nomura Securities International person announced a $388m financing bundle for Greenalia's Misae Solar Park II (Misae II) successful the US authorities of Texas.

The bundle includes a $295m construction-to-term indebtedness and a $93m missive of recognition facility.

Misae II is Greenalia's archetypal US development, and marks a important measurement successful renewable vigor expansion.

The 3,970-acre tract successful Childress County volition beryllium 1 of Texas's largest star developments.

The task volition diagnostic a 430 megawatts nonstop existent /331.6 megawatts alternating existent photovoltaic strategy and is expected to scope commercialized cognition by the 3rd 4th of 2025.

MUFG managing manager and task concern pb Louise Pesce stated: "We're thrilled to enactment Greenalia by starring this analyzable and palmy transaction.

"Greenalia's innovation and MUFG's expertise volition assistance the authorities of Texas summation vigor capableness with renewable star power."

MUFG and Nomura acted arsenic co-ordinating pb arrangers and bookrunners, with MUFG besides serving arsenic the administrative agent.

The task benefits from 2 ERCOT (Electric Reliability Council of Texas) West-settled powerfulness acquisition agreements for 65% of its vigor output and renewable vigor certificates (RECs).

The remaining 35% of vigor volition beryllium sold successful the merchant ERCOT market.

Greenalia CEO Manuel Garcia stated: "This transaction is simply a large measurement for Greenalia's US expansion. With the assistance of MUFG and Nomura, we are connected way to scope 1GW of operational projects by 2026."

Misae II has secured a fixed-price accumulation taxation recognition transportation statement and a abstracted fixed-price statement for 40% of its RECs.

In a related development, Adapture Renewables has secured $321m successful financing from MUFG for the operation of the 441MW Titanium star portfolio successful the US.

The financing is structured arsenic a operation indebtedness and a taxation recognition span loan. The Titanium portfolio spans 3 sites successful Arkansas and Illinois, expected to powerfulness 71,000 homes annually.

Construction of the archetypal site, the Cooks Mill project, commenced successful September 2024 and volition beryllium operational by aboriginal 2026.

"MUFG and Nomura supply $388m for Greenalia’s star Misae II successful Texas" was primitively created and published by Power Technology, a GlobalData owned brand.

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