Pattern Energy closes $11 B financing on SunZia project
SunZia is a 550-mile ±525 kV high-voltage direct current transmission line between central New Mexico and south-central Arizona with the capacity to transport 3,000 MW of electricity.
Image for illustration purposes.
USA: SunZia is a 550-mile ±525 kV high-voltage direct current transmission line between central New Mexico and south-central Arizona with the capacity to transport 3,000 MW of electricity.
Pattern Energy Group LP has closed an $11 billion non-recourse financing and begun full construction of SunZia Transmission and SunZia Wind, the largest clean energy infrastructure projects in U.S. history. SunZia Transmission will deliver clean power generated by Pattern’s 3,515 MW SunZia Wind facility, the largest wind project in the Western Hemisphere, being constructed across Torrance, Lincoln, and San Miguel Counties in New Mexico. The financing includes an integrated construction loan and letter of credit facility, two separate term facilities, an operating phase letter of credit facility, an innovative tax equity term loan facility and a holding company loan facility.
For the approximately $8.8 billion construction and term facilities, BNP Paribas, Crédit Agricole Corporate and Investment Bank, CoBank, ACB; Desjardins Group, Export Development Canada, ING Capital LLC, Intesa Sanpaolo S.p.A., New York Branch, KFW IPEX-Bank, MUFG Bank, Ltd., National Bank of Canada, Natixis Corporate & Investment Banking, Societe Generale, Sumitomo Mitsui Banking Corporation and Wells Fargo Securities, LLC acted as Initial Coordinating Lead Arrangers and Joint Bookrunners. Banco Bilbao Vizcaya Argentaria, The Bank of Nova Scotia and Sumitomo Mitsui Trust Bank, Limited, New York Branch acted as Coordinating Lead Arrangers.
The projects will employ more than 2,000 workers on-site during construction, including heavy equipment operators, electricians, laborers, and others. The EPC Contractor of the transmission line is Quanta Infrastructure Services Group and the HVDC supplier is Hitachi Energy. The EPC contractor for the wind project is Blattner Energy, a Quanta affiliated company. GE Vernova and Vestas will supply the wind turbines.
Source: T&D World