Renewables investor Cubico Sustainable Investments has reached financial close for a 100MW photovoltaic project in South Carolina in the US.
Construction of the Huntley solar PV plant in Orangeburg County is underway with operations expected in mid-2020.
The project is the third to reach financial close as part of a 580MW portfolio of five PV projects which Cubico acquired from Cypress Creek Renewables in January 2019.
US Bank provided tax equity and project finance debt was provided by HSBC, Rabobank and Nord/LB.
The same lenders also provided financing for Palmetto, Cubico’s other utility-scale solar project in Orangeburg County, which started construction in December 2018.
Cubico Americas head Ricardo Diaz said: “It is so pleasing to see the build out of our USA business continuing at pace; we are now one of the largest owners of utility-scale solar PV in South Carolina.
“We are very excited about the growth prospects for our USA business going forward.”