Twain Financial Partners has closed on $42m in financing to complete the Longbow solar project in Brazoria County, Texas.
Twain’s $42m financing is its largest solar loan to date, is part of its recent commitment to finance $1bn-worth of new renewable projects over the next three years.
“Renewable energy investment is a fast-growing segment of our business, and the Longbow project helps highlight our capabilities in that space,” said Michael Park, who recently joined Twain as its director of renewable energy.
“I fully anticipate Twain will announce funding commitments for a number of similar projects in the coming months.”
The Longbow Solar project is being co-developed by Clean Capital Partners and Aspen Creek.
The project is on schedule to be placed into service by August 2022.
A power purchase agreement will allow for the sale of most of the generated power to a distributing company at a price that is less than one-third of the current market rates for Texas residential electricity customers.