Connection

popular articles

Why Oil Prices Remain Contained Despite Middle East Conflict
EDF launches auctions for long-term nuclear electricity contracts
Chinese demand revives Australian raw coal exports
France sets its energy strategy to 2035 balancing nuclear and renewables
Ontario Power Generation granted licence to build SMR at Darlington

MUFG and Nomura fund $388M for Greenalia’s Texas solar park

MUFG and Nomura have provided $388M in financing to Greenalia for the construction of the Misae II solar park, marking the Spanish firm’s entry into the US market.

Please share:

Financial group Mitsubishi UFJ Financial Group (MUFG) and Nomura Securities International, Inc. (Nomura) announced on April 3 a financing agreement with Greenalia S.A., a Spanish developer of renewable energy projects, for the construction of the Misae II solar park in Texas. This project marks Greenalia’s first development in the United States and aligns with its strategy to reach 1 GW of operational capacity by 2026.

The financing includes a $295M construction-to-term loan and a $93M letter of credit facility, totalling $388M. MUFG and Nomura acted as Coordinating Lead Arrangers and Bookrunners, with MUFG also serving as Administrative Agent. Located in Childress County, the park spans 3,970 acres and will develop a photovoltaic capacity of 430 MW-DC / 331.6 MW-AC. Commercial operation is scheduled for the third quarter of 2025.

A project backed by power purchase agreements

Misae II benefits from two power purchase agreements (PPAs) in the ERCOT West zone covering 65% of its energy output and associated Renewable Energy Certificates (RECs). The remaining 35% will be sold on ERCOT’s merchant market. Additionally, the project has secured a fixed-price Production Tax Credit (PTC) Transfer Agreement and a separate fixed-price deal for 40% of its RECs, offering financial stability to investors.

Targeting the US market for Greenalia

This financing represents a strategic milestone for Greenalia in executing its US expansion plan. According to Antonio Fernandez-Montells, Chief Financial Officer of Greenalia S.A., the transaction enables the company to meet capital needs for projects currently under construction. Chief Executive Officer Manuel Garcia confirmed that this development is part of the group’s targets for 2026.

Vinod Mukani, Global Head of Infrastructure and Power Business at Nomura, emphasised the structured nature of the financing, designed to deliver risk-adjusted returns. Louise Pesce, Managing Director of Project Finance at MUFG, highlighted the partners’ involvement in structuring a complex financial arrangement for a project of this scale in Texas.

Register free of charge for uninterrupted access.

Publicite

Latest news

The oil industry braces for increased uncertainty: tariffs, price volatility, and investment risks
US solar industry to add 502 GWdc of capacity by 2035
GE Vernova posts 11% revenue increase in Q1 2025
Eco Wave Power signs manufacturing agreement for its wave energy project in Los Angeles
HYCO1 and Malaysia LNG sign memorandum of understanding for a carbon capture and utilization project

Recently published in

US solar industry to add 502 GWdc of capacity by 2035

The US solar industry is expected to add 502 GWdc of capacity to the market by 2035. However, political uncertainty could jeopardize these projections, putting future investments at risk.
The UK seeks to ban the purchase of Chinese solar panels linked to forced labour
The UK government has introduced an amendment aimed at preventing its public company from buying components linked to forced labour, which could impact the supply of Chinese solar panels.
en_1140290951540-14
The UK seeks to ban the purchase of Chinese solar panels linked to forced labour
The UK government has introduced an amendment aimed at preventing its public company from buying components linked to forced labour, which could impact the supply of Chinese solar panels.
en_1140290951540-14
CATL unveils revolutionary electric vehicle batteries, paving the way for a new energy era
CATL introduced several innovative batteries for electric vehicles, including the Naxtra, the first series-produced sodium-ion battery, and the Freevoy, marking the entry into the era of multiple power sources.
en_1140290944540-16
CATL unveils revolutionary electric vehicle batteries, paving the way for a new energy era
CATL introduced several innovative batteries for electric vehicles, including the Naxtra, the first series-produced sodium-ion battery, and the Freevoy, marking the entry into the era of multiple power sources.
en_1140290944540-16
Meyer Burger introduces short-time work at Thalheim due to material shortages
Meyer Burger announces the introduction of short-time work at its Thalheim site starting May 1, 2025, affecting 300 employees due to temporary material shortages required for solar cell production.
en_1140290957540-11
Meyer Burger introduces short-time work at Thalheim due to material shortages
Meyer Burger announces the introduction of short-time work at its Thalheim site starting May 1, 2025, affecting 300 employees due to temporary material shortages required for solar cell production.
en_1140290957540-11

Morocco restarts Noor Ouarzazate III solar plant after more than a year of shutdown

After a one-year interruption, the Noor Ouarzazate III solar plant, with a capacity of 150 MW, has been brought back into operation by the Masen group. This event highlights Morocco's ambitions in renewable energy and energy transition.
Algeria and LONGi discuss industrial partnership for solar panel production
Algeria explores a partnership with Chinese giant LONGi to launch local solar panel production. This initiative is part of the country's energy diversification strategy.
en_1140290953540-13
Algeria and LONGi discuss industrial partnership for solar panel production
Algeria explores a partnership with Chinese giant LONGi to launch local solar panel production. This initiative is part of the country's energy diversification strategy.
en_1140290953540-13
Washington plans up to 3,521% tariffs on Southeast Asian solar panels
The United States plans to impose heavy tariffs on solar panels from four Asian countries, citing transnational subsidies supported by China.
en_1140290956540-11
Washington plans up to 3,521% tariffs on Southeast Asian solar panels
The United States plans to impose heavy tariffs on solar panels from four Asian countries, citing transnational subsidies supported by China.
en_1140290956540-11
Das Solar invests €109mn in photovoltaic plant in France
Chinese group Das Solar begins construction of its first European factory in Mandeure, with an initial 2 GW capacity and the planned creation of 600 jobs.
en_1140290947540-13
Das Solar invests €109mn in photovoltaic plant in France
Chinese group Das Solar begins construction of its first European factory in Mandeure, with an initial 2 GW capacity and the planned creation of 600 jobs.
en_1140290947540-13

EDP Strengthens Its Presence in Germany with a Second Major Solar Project

EDP (Energias de Portugal) expands its German portfolio with a second 65 MWp photovoltaic complex. Carried out with Kronos Solar EDPR, this initiative supplies nearly 22,000 households and marks a step forward in its European growth strategy.
Recurrent Energy commissions 127 MW solar park in Louisiana
Recurrent Energy launched operations of a 127 MW solar site in Louisiana, marking a strategic first entry into a state with strong industrial energy demand.
en_1140290957540-9
Recurrent Energy commissions 127 MW solar park in Louisiana
Recurrent Energy launched operations of a 127 MW solar site in Louisiana, marking a strategic first entry into a state with strong industrial energy demand.
en_1140290957540-9
Voltalia and Entech to build 90 MWh solar power plant with storage in Senegal
AXIAN Energy has entrusted Voltalia and Entech with the development of a 60 MW solar plant combined with 90 MWh storage in the Kolda region, scheduled to be operational by 2026.
en_1140290944540-13
Voltalia and Entech to build 90 MWh solar power plant with storage in Senegal
AXIAN Energy has entrusted Voltalia and Entech with the development of a 60 MW solar plant combined with 90 MWh storage in the Kolda region, scheduled to be operational by 2026.
en_1140290944540-13
Atlas Renewable signs deal to supply 24 MW of solar power to Chlorum Solutions
Atlas Renewable Energy has signed a power purchase agreement with Chlorum Solutions to power its chemical operations in Brazil with 24 MW of solar energy from the Draco complex.
en_1140290953540-11
Atlas Renewable signs deal to supply 24 MW of solar power to Chlorum Solutions
Atlas Renewable Energy has signed a power purchase agreement with Chlorum Solutions to power its chemical operations in Brazil with 24 MW of solar energy from the Draco complex.
en_1140290953540-11

Kosol Energie commissions 10 MW solar plant in Gujarat with GoodWe

Kosol Energie has completed a 10 MW solar power plant in the Kutch desert, relying on GoodWe inverters to optimise energy output under extreme climate conditions.
EDF and Power Sustainable finalise financing for Desert Quartzite solar project
EDF Renewables and Power Sustainable secured financing for Desert Quartzite, a 375 MW solar power plant with storage, located in California and operational since December 2024.
en_1140290955540-11
EDF and Power Sustainable finalise financing for Desert Quartzite solar project
EDF Renewables and Power Sustainable secured financing for Desert Quartzite, a 375 MW solar power plant with storage, located in California and operational since December 2024.
en_1140290955540-11
Catalyze secures $85 million in tax equity investment from RBC to advance solar projects in the United States
Catalyze has secured an $85 million tax equity investment from RBC to support the development of 75 MW of commercial and community solar projects across the United States by the end of 2025.
en_1140290959540-9
Catalyze secures $85 million in tax equity investment from RBC to advance solar projects in the United States
Catalyze has secured an $85 million tax equity investment from RBC to support the development of 75 MW of commercial and community solar projects across the United States by the end of 2025.
en_1140290959540-9
Syncarpha Capital commissions seventh community solar project in Maine
The New York-based developer has received permission to operate Troy Solar I, a 995 kW power plant connected to the Central Maine Power grid.
en_1140290950540-9
Syncarpha Capital commissions seventh community solar project in Maine
The New York-based developer has received permission to operate Troy Solar I, a 995 kW power plant connected to the Central Maine Power grid.
en_1140290950540-9

ES Foundry signs 150 MW contract with US community solar developer

US manufacturer ES Foundry has signed a three-year, 150 MW supply agreement with a community solar developer to reinforce its domestic supply chain and support the expansion of the solar market in the United States.
Ethiopian Prime Minister visits TOYO solar site in Vietnam to support African expansion
The Ethiopian Prime Minister’s visit to TOYO’s factory in Vietnam signals a new phase in energy cooperation with the Japanese group, focusing on industrial expansion in Ethiopia.
en_1140290966540-4
Ethiopian Prime Minister visits TOYO solar site in Vietnam to support African expansion
The Ethiopian Prime Minister’s visit to TOYO’s factory in Vietnam signals a new phase in energy cooperation with the Japanese group, focusing on industrial expansion in Ethiopia.
en_1140290966540-4
Niger turns to solar after Nigeria cuts electricity exports
Niger is increasing its reliance on solar energy to offset the reduction in Nigerian electricity exports, a direct consequence of diplomatic tensions following the regime change in Niamey.
en_1140290968540-4
Niger turns to solar after Nigeria cuts electricity exports
Niger is increasing its reliance on solar energy to offset the reduction in Nigerian electricity exports, a direct consequence of diplomatic tensions following the regime change in Niamey.
en_1140290968540-4
DTE Energy breaks ground on 100 MW solar park to power Ford’s Michigan plants
DTE Energy has begun construction of a new solar park to provide Ford Motor Company with 100% renewable electricity for its manufacturing sites in Michigan.
en_1140290955540-9
DTE Energy breaks ground on 100 MW solar park to power Ford’s Michigan plants
DTE Energy has begun construction of a new solar park to provide Ford Motor Company with 100% renewable electricity for its manufacturing sites in Michigan.
en_1140290955540-9

Atrato Onsite Energy secures £250mn from Barclays to fund solar rollout in the UK

UK commercial and industrial solar specialist Atrato Onsite Energy has finalised a structured financing agreement with Barclays to support the expansion of its photovoltaic asset base.
Matrix Renewables commissions Idaho’s largest solar power plant
Matrix Renewables and rPlus Energies have completed the commissioning of Pleasant Valley Solar 1, a 261 MWdc project located in Ada County, Idaho, now the largest solar facility in Idaho Power’s network.
en_1140290949540-9
Matrix Renewables commissions Idaho’s largest solar power plant
Matrix Renewables and rPlus Energies have completed the commissioning of Pleasant Valley Solar 1, a 261 MWdc project located in Ada County, Idaho, now the largest solar facility in Idaho Power’s network.
en_1140290949540-9
CLP Engineering connects 47.8 MW of solar capacity to the grid in a 500 MW pilot project in Kashgar
The first phase of the 500 MW photovoltaic project in Yingjisha has been commissioned, marking a key milestone in expanding solar capacity in the Kashgar region.
en_1140290947540-9
CLP Engineering connects 47.8 MW of solar capacity to the grid in a 500 MW pilot project in Kashgar
The first phase of the 500 MW photovoltaic project in Yingjisha has been commissioned, marking a key milestone in expanding solar capacity in the Kashgar region.
en_1140290947540-9
VALOREM and Arkéa structure €22mn debt for 63 rooftop solar projects
Groupe VALOREM secured €22mn in funding with Arkéa Banque to develop 63 rooftop photovoltaic plants in Nouvelle-Aquitaine and Occitanie, consolidating its model in a shifting French solar market.
en_1140290970540-3
VALOREM and Arkéa structure €22mn debt for 63 rooftop solar projects
Groupe VALOREM secured €22mn in funding with Arkéa Banque to develop 63 rooftop photovoltaic plants in Nouvelle-Aquitaine and Occitanie, consolidating its model in a shifting French solar market.
en_1140290970540-3

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS