Clēnera, a subsidiary of Enlight Renewable Energy, announces that it has received the funding necessary to launch its Apex Solar project. The project, with a minimum capacity of 105 MWdc, will develop solar energy production in the United States, in the state of Montana. The Apex Solar project is expected to enter commercial operation in the second quarter of 2023.
Bank of America supports Clēnera
Clēnera specializes in the production of solar farms and storage solutions for utilities. In total, Enlight Renewable Energy’s subsidiary installed 1.6 GW of solar capacity worldwide. Currently, the company is developing 50 projects with a capacity of about 12 GWdc and 5.5 GWh of energy storage projects.
Apex Solar, Clēnera’s project, has the support of major institutions for investments. The company can count on Bank of America, the largest investor in the renewable energy sector in the United States. In addition, the company can also count on the German bank NORD/LB, which has operations in Europe and the United States.
Managing Director in Bank of America’s Global Sustainable Finance Group, Omer Farooq, says:
“We are proud to work with Clēnera and our partners to close this construction financing. This transaction demonstrates another important step in the development of solar and clean energy and is an integral part of Bank of America’s broader commitment to $1.5 trillion in sustainable financing by 2030.”
Huntington National Bank, also an investor for the Clēnera project, will provide sale-leaseback financing on a long-term basis. For example, Jason Ellsoworth, president and CEO of Clēnera states:
“These transactions represent the strategic financing capabilities of Clēnera and Enlight. Together with our valued partners, we are working to realize 12 GWdp in solar while further expanding our portfolio and rapidly growing our energy storage business.”
A major player
Clēnera acquires, builds and manages large-scale solar farms and energy storage facilities across the United States. The company, a subsidiary of Enlight Renewable Energy, is to provide reliable and affordable energy systems. In doing so, the company is helping its utility partners become leaders in clean energy.
Clēnera will provide, as part of its partnership with NorthWestern Energy, electricity for 25 years. Founded in 2008, Enlight Renewable Energy is active in over 10 countries. The company’s focus is on the United States, Europe and Israel.
Enlight Renewable Energy is developing solar, wind and energy storage projects. Its portfolio of projects at all stages of development amounts to 17 GW in the generation segment. In addition, the group has 17 GWh in the storage sector, of which 2,800 MW are under construction.