Intersect Power closes US$3.1 billion financing to complete 2.2GW near-term portfolio, takes recent funding to US$6 billion

Jonathan Tourino Jacobo

Utility-scale renewables developer Intersect Power has secured US$3.1 billion in project financing to complete its 2.2GW near-term clean energy portfolio in the US.

The transactions cover construction financing, tax equity, operational letters of credit and portfolio level term debt with an aggregate of US$2.4 billion for new financing commitments and the allocation of US$675 million for the construction and operation of four solar projects with a capacity of 1.5GW of solar PV and a 1GWh battery energy storage system (BESS).

All four projects are expected to be operational in 2023, with two – Lumina I and Lumina II with 840MWp capacity – located in Texas, while the other two solar-plus-storage projects – Oberon I and Oberon II with 685MWp solar PV and 1GWh of BESS – in the Californian desert. Oberon I received construction approval from the US Bureau of Land Management (BLM) earlier this year.


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