Qcells USA Corp. has closed a financing bundle for its Coniglio Solar Project, positioned in Fannin County, Texas.
The undertaking contains practically 405,000 solar modules, equipped by Qcells North America. The solar facility would be the largest undertaking in Qcells USA’s working portfolio up to now within the U.S., with a rated capability of 168 MWp.
KeyBanc Capital Markets (KCBM) served because the lead arranger for the $29 million financial institution mortgage and letter of credit score facility. KeyBank National Association acted because the collateral agent and administrative agent. This closing follows the profitable tax fairness financing and industrial operations in 2021.
“We are very pleased to close financing for Coniglio and to establish a new relationship with a leading bank in our field,” says Rich Chung, head of undertaking finance at Qcells USA. “This debt financing highlights the appeal of our renewable energy growth strategy in the United States and Qcells USA’s strength as a sponsor, especially as we aggressively expand our pipeline geographically and into new technologies like battery storage.”
“As a part of our continuing support for renewable energy, we are pleased to serve as Lead Arranger and to provide capital for the Coniglio Solar Project,” states Tyler Nielsen, director of utilities power and renewables at KeyBanc Capital Markets. “This represents our first financing with Qcells, and we look forward to continuing the relationship to deploy new technologies and energy solutions.”