8 transactions covering 2.2 GWdc late-stage solar + 1.4 GWh co-located storage portfolio (CA + TX projects in operation by 2023)
Intersect Power closed 8 separate transactions totaling $2.6B in financing commitments — construction financing, tax equity, land financing, and portfolio-level term debt. Distinguishing feature: $1.4B portfolio-level term debt from HPS Investment Partners + co-investors. Plus separately announced TPG Rise Climate-led $750M growth equity round. Among largest US renewables platform financings of 2021.
$2.60B
Deal Value
2,200MW
Capacity
1,400MWh
Storage
Solar
Technology
CA
Location
Deal Details
- Deal Type
- Project Finance
- Seller / Sponsor
- Intersect Power
- Buyer / Financier
- HPS Investment Partners + co-investors (term debt $1.4B); CarVal Investors, Generate, Climate Adaptive Infrastructure (existing)
- Deal Value
- $2.6B
- Stage
- Construction
- ISO/RTO
- CAISO
- Source
- PR Newswire
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