EnergyRe Closes $815 Million Financing for Solar Projects in South Carolina
energyRe has successfully closed an $815 million financing package to support five utility-scale solar projects across South Carolina, totaling approximately 360 megawatts of generating capacity. This marks one of the largest solar-only project financings in the state's history and advances energyRe’s broader goal of investing over $2 billion in South Carolina by 2030. The financing was supported by Bank of America, Canadian Imperial Bank of Commerce (CIBC), and Santander, with each playing distinct roles including documentation agent and financial advisor. The projects are contracted under long-term power purchase agreements that will provide significant revenue for local governments over the next two decades. energyRe’s M&A and Capital Markets team led the deal execution. energyRe has a growing solar portfolio of 1.8+ gigawatts across multiple states, with more than $1.9 billion in total financing secured to date. The company is expanding its operations rapidly, having broken ground on nearly 450 MW last year and operating or developing close to another 700 MW.
Topics: project financing renewable energy solar power South Carolina
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