US-based Swift Current Energy has received financing from ING Capital for its 266MWdc (195MWac) Tres Bahias Solar project.
Located in southeast Texas, the solar facility is currently in the construction phase and is expected to come online by the end of 2023.
ING Americas renewables and power managing director and head Sven Wellock said: “We’re delighted to build on our relationship with Swift Current Energy and are proud to lead the financing of the Tres Bahias Solar project.
“This latest project from Swift Current is yet another important milestone for the US as we continue the transition to a sustainable and secure energy network.”
Swift Current, which is developing the project, will also be its long-term owner and operator.
ING served as the sole lead arranger, book-runner and green loan structuring agent for the transaction.
Morgan Stanley Renewables has also made a tax equity commitment.
Swift Current Energy co-founder and CEO Eric Lammers stated: “Swift Current Energy now has more than 1GW of solar and wind energy projects in construction across multiple power markets and states.
“We are grateful for the support of ING and Morgan Stanley on the Tres Bahias Solar project and we look forward to growing our partnership with both companies as we execute on our pipeline of wind, solar and storage projects located throughout the US.”
First Solar has been contracted by Swift Current to deliver solar panels for its project.
IEA Constructors has been named as the project’s leading renewable energy engineering, procurement and construction provider.