Orion III Solar Project
SB Energy closed financing as part of a $2.4 billion four-project portfolio raise; the Orion III solar project in Milam County, Texas was led on debt by Mizuho Americas with Truist Bank as tax equity provider, and Google contracted for about 75% of portfolio output.
250MW
Capacity
Solar
Technology
TX
Location
Deal Details
- Deal Type
- Construction debt and tax equity
- Seller / Sponsor
- SB Energy
- Buyer / Financier
- Mizuho
- Deal Value
- Undisclosed
- Stage
- operating
- ISO/RTO
- ERCOT
- Source
- Energy Global
Related Deals
Kapolei Energy Storage (KES) — 185 MW / 565 MWh standalone Li-ion battery storage, Oahu HI
Plus Power → Mizuho Securities USA (lead); KeyBank (lead); Silicon Valley Bank; CoBank
$219M (incl. $188M construction debt + $31M LCs)
SB Energy — SoftBank Group US renewables platform (10 GW operating/UC target by 2025)
SB Energy (SoftBank Group US renewables) → Ares Infrastructure & Power
Up to $600M
Orion Solar Belt — 1.3 GW portfolio of 4 utility-scale solar projects (Orion I, Eiffel, Orion II, Orion III), Milam County, TX — 875 MWdc using 1.3M American-made First Solar modules
SB Energy Global (SoftBank / Ares Management) → J.P. Morgan, Bank of America, Morgan Stanley Renewables, Truist Bank, MUFG, Mizuho Americas, ING, SMBC, CIBC, Fifth Third Bank, Société Générale
$2.4B+
Solaire Holman 1 — Solar project, TX (ERCOT), 50 MW, COD 2017.
Public Utilities
East Pecos Solar — Solar project, TX (ERCOT), 120 MW, COD 2017.
Public Utilities
Mira Loma Battery Storage Facility — 20 MW / 80 MWh Li-ion (~400 Tesla Powerpacks)
Tesla → Southern California Edison
20 MW
Get deals like this in your inbox
Free weekly clean energy deal intelligence. Every Monday.