Enlight Renewable Energy (ENLT) said Monday it has received $773 million in debt funding for its Country Acres project near Sacramento, California.
The company secured the financing, through its Clenera Holdings unit, from BNP Paribas Securities Corp., Credit Agricole, Natixis Corporate & Investment Banking, and Norddeutsche Landesbank Girozentrale, Enlight said, adding that it anticipates the construction loan to be converted into a $376 million term loan.
Enlight said the Country Acres project has a 30-year solar generation busbar PPA and 20-year energy storage busbar purchase deal with the Sacramento Municipal Utility District.
The utility-scale renewable energy projects operator also said it has started the construction at the project, which comprises 403 megawatts of solar generation and 688 megawatt-hours of energy storage capacity, and intends to reach full commercial operation date during H2 next year.
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