Pattern Energy has secured financing for its 3500MW SunZia onshore wind and transmission project in New Mexico.
The company closed $11bn of non-recourse financing and begun full construction of SunZia Transmission and SunZia Wind.
SunZia Transmission is a 885km 525kV high-voltage direct current (HVDC) transmission line between central New Mexico and south-central Arizona with the capacity to transport 3000MW of electricity.
It will deliver clean power generated by Pattern Energy’s 3515MW SunZia Wind facility, which is being constructed across Torrance, Lincoln, and San Miguel Counties in New Mexico.
Vestas will supply 242 V163-4.5MW turbines for the project, with the 1100MW order including supply, delivery, and commissioning of the turbines, as well as a multi-year Active Output Management 5000 (AOM 5000) service agreement.
Turbine delivery is planned to begin in the first quarter of 2025 with final commissioning scheduled for the first half of 2026.
“Our hope is this successful financing of the largest clean energy infrastructure project in American history serves as an example for other ambitious renewable infrastructure initiatives that are needed to accelerate our transition to a carbon free future,” said Hunter Armistead, CEO of Pattern Energy.
“We are very grateful to all of our financial partners who are backing SunZia as part of this record-setting project financing. Construction is well underway on this historic project that will deliver clean power with a generation profile that complements abundant solar generation available across the Western US.
“We’d specifically like to thank our shareholders for their support of Pattern’s efforts to deliver this critical project and meaningfully advance the world’s energy transition.”