popular articles

Swift Current Energy closes financing for Tres Bahias solar project

Swift Current Energy, a U.S.-based solar and wind energy developer, announced that it has secured project financing with ING Capital and a tax equity commitment from Morgan Stanley Renewables for its 266 MWdc Tres Bahias solar project in Texas. The project is expected to begin operating by the end of 2023.

Please share:

Swift Current Energy announced that it has closed project financing with ING Capital, LLC and received a tax equity commitment from Morgan Stanley Renewables Inc. for its 266 MWdc (195 MWac) Tres Bahias solar project in southeast Texas.

The solar project is currently under construction and is expected to begin operation by the end of 2023. ING acted as sole lead arranger, bookrunner and green loan structuring agent. Morgan Stanley has committed tax equity to the project. Swift Current is the developer of the project and will be the long-term owner and operator.

1 GW of solar power projects for Swift Current Energy

“Swift Current Energy now has more than 1 GW of solar and wind projects under construction in multiple energy markets and states,” said Eric Lammers, CEO and co-founder of Swift Current Energy. First Solar, based in the United States, is supplying the solar panels for the project. Swift Current selected IEA Constructors, a leading provider of renewable energy engineering, procurement and construction services, to manage the construction of the project.

Respecting the U.S. policy of reducing inflation

The transaction was structured to reflect the new direction of U.S. policy to reduce inflation. The project is located in Calhoun County, Texas, a community with a long history of generating electricity through large-scale energy projects. As of April 2023, Swift Current had more than 1 GW under construction, including the 800 MW Double Black Diamond solar project in Illinois. Vinson & Elkins and Husch Blackwell represented Swift Current in the transaction. Latham & Watkins and Jackson Walker represented ING, and Mayer Brown and Jackson Walker represented Morgan Stanley.

 

Register free of charge for uninterrupted access.

Publicite

Recently published in

Canadian producer Innergex has received approval from the Energy Regulation Commission for two agrivoltaic solar projects in France, marking its entry into the national photovoltaic market.
PowerChina has completed the Cirata floating photovoltaic power plant, a pioneering project in Indonesia that now supplies a quarter of the country's renewable energy production.
PowerChina has completed the Cirata floating photovoltaic power plant, a pioneering project in Indonesia that now supplies a quarter of the country's renewable energy production.
Photovoltaic manufacturer ZNShine Solar delivered 54.6 MW of bifacial modules for a 67 MW solar project in Texas, financially closed at the end of 2023 through non-recourse financing led by EastWest Bank.
Photovoltaic manufacturer ZNShine Solar delivered 54.6 MW of bifacial modules for a 67 MW solar project in Texas, financially closed at the end of 2023 through non-recourse financing led by EastWest Bank.
Waaree Energies has launched its 5.4 GW solar cell plant in Chikhli, Gujarat, marking a key milestone for India’s photovoltaic industry and its local manufacturing ambitions.
Waaree Energies has launched its 5.4 GW solar cell plant in Chikhli, Gujarat, marking a key milestone for India’s photovoltaic industry and its local manufacturing ambitions.
Enlight has secured $773 mn in financing for the Country Acres project, combining solar generation and storage near Sacramento, scheduled to be operational in the second half of 2026.
GreenYellow South Africa begins installation of 7,500 solar panels across 10 AJP Group shopping centres, targeting 7.5 GWh in annual output and a 120% reduction in energy costs over twenty years.
GreenYellow South Africa begins installation of 7,500 solar panels across 10 AJP Group shopping centres, targeting 7.5 GWh in annual output and a 120% reduction in energy costs over twenty years.
Chinese manufacturer LONGi secured a 555 MW supply deal for its Hi-MO X10 solar modules during a professional exhibition in Johannesburg, expanding its presence in the African photovoltaic market.
Chinese manufacturer LONGi secured a 555 MW supply deal for its Hi-MO X10 solar modules during a professional exhibition in Johannesburg, expanding its presence in the African photovoltaic market.
Q ENERGY has launched construction works for an 8.5 MWc photovoltaic park in Cahuzac-sur-Adour, on a former industrial site, with commissioning scheduled for late 2025.
Q ENERGY has launched construction works for an 8.5 MWc photovoltaic park in Cahuzac-sur-Adour, on a former industrial site, with commissioning scheduled for late 2025.
New Delhi has confirmed the construction of a solar power plant in Sampur, reviving a long-delayed project following the withdrawal of a major wind farm backed by the Adani Group.
Italian company Plenitude has begun building a 90 MW solar plant in Fortuna, southeastern Spain, with commissioning scheduled for 2025.
Italian company Plenitude has begun building a 90 MW solar plant in Fortuna, southeastern Spain, with commissioning scheduled for 2025.
Masdar, through its subsidiary Saeta, has acquired Valle Solar, one of the largest photovoltaic projects in the Valencia region, reinforcing its European growth strategy with a potential storage capacity of 259 MW.
Masdar, through its subsidiary Saeta, has acquired Valle Solar, one of the largest photovoltaic projects in the Valencia region, reinforcing its European growth strategy with a potential storage capacity of 259 MW.
CARBON partners with Enerfip to raise at least €1 mn in citizen funding for its planned photovoltaic gigafactory in Fos-sur-Mer, an industrial project backed by the solar sector.
CARBON partners with Enerfip to raise at least €1 mn in citizen funding for its planned photovoltaic gigafactory in Fos-sur-Mer, an industrial project backed by the solar sector.
GreenYellow is installing self-consumption photovoltaic carports at three Sanofi sites under 15-year power purchase agreements, totalling 4.5 MWc of installed capacity.
The Renewable Energy Syndicate opposes the bill adopted by the Economic Affairs Committee, arguing that its provisions would end the development of agrivoltaics in France.
The Renewable Energy Syndicate opposes the bill adopted by the Economic Affairs Committee, arguing that its provisions would end the development of agrivoltaics in France.
A decree published in the Official Journal revises support for photovoltaic systems under 500 kWc by lowering certain tariffs and introducing a bank guarantee to regulate project eligibility.
A decree published in the Official Journal revises support for photovoltaic systems under 500 kWc by lowering certain tariffs and introducing a bank guarantee to regulate project eligibility.
TOYO Co., Ltd plans to add 2 gigawatts to its solar production capacity in Ethiopia by August 2025, responding to strong international demand with an estimated $47mn investment.
TOYO Co., Ltd plans to add 2 gigawatts to its solar production capacity in Ethiopia by August 2025, responding to strong international demand with an estimated $47mn investment.
ZNShine Solar will supply photovoltaic modules for the Patuca project, a 50MW facility backed by the Honduran government and scheduled to be commissioned in October 2025.
TotalEnergies’ withdrawal from the Maya project highlights a strategic shift in French Guiana towards distribution and territorial balance, at the expense of solar production around Cayenne.
TotalEnergies’ withdrawal from the Maya project highlights a strategic shift in French Guiana towards distribution and territorial balance, at the expense of solar production around Cayenne.
German developer Energiekontor has launched operations at the Letschin solar park, adding 60 megawatts to its portfolio and reinforcing its electricity generation segment.
German developer Energiekontor has launched operations at the Letschin solar park, adding 60 megawatts to its portfolio and reinforcing its electricity generation segment.
The Bangladesh Power Development Board has issued a tender for 14 large-scale solar plants, following previous project failures due to investor-criticised terms.
The Bangladesh Power Development Board has issued a tender for 14 large-scale solar plants, following previous project failures due to investor-criticised terms.
Scatec has signed a 25-year power purchase agreement with STEG for a 120 MW solar project, strengthening its presence in Tunisia and cooperation with Japan’s Toyota Tsusho Group.
TotalEnergies ENEOS and Imerys have deployed a 1 MWp photovoltaic system in Ipoh, Malaysia.
TotalEnergies ENEOS and Imerys have deployed a 1 MWp photovoltaic system in Ipoh, Malaysia.
ACCIONA Energía has started the construction of the Daanbantayan solar plant, a €120 million project in the Philippines, with operations expected to begin in late 2026.
ACCIONA Energía has started the construction of the Daanbantayan solar plant, a €120 million project in the Philippines, with operations expected to begin in late 2026.
Acciona Energía has closed a €263 million syndicated loan for the construction of the Aldoga solar farm in Australia, supported by Cesce's green investment policy.
Acciona Energía has closed a €263 million syndicated loan for the construction of the Aldoga solar farm in Australia, supported by Cesce's green investment policy.

Advertising