ContourGlobal has closed its first US renewable project financing, securing more than $350m for the 324MWp Black Hollow Sun solar scheme in Colorado.
The package includes a tax equity investment and debt financing, and could exceed $421m upon completion of phase two, ContourGlobal said.
Phase one of the project, totalling 185MWp, is already operating and supplying electricity to Platte River Power Authority, according to the company.
The second phase will add 139MWp and is expected to complete by the end of 2026, ContourGlobal said.
Antonio Cammisecra, ContourGlobal president and chief executive, said: “By successfully closing our first tax equity and project financing for a renewable asset in the United States, we have demonstrated the quality and bankability of our projects.”
Cammisecra added: “This represents another meaningful milestone in our 20-year commitment to US energy.”
Tyr Energy provided the tax equity investment, the company said.
Tyr Energy chief executive Garrick Venteicher said: “We will continue to pursue new investment opportunities to support the next phase of the energy transformation.”
Crédit Agricole CIB, ING, Intesa Sanpaolo, Mizuho and MUFG supplied the debt financing, ContourGlobal said.
The project will become the largest photovoltaic installation in northern Colorado once complete and will produce enough clean electricity to power more than 73,000 homes annually, the company said.