SunZia Wind (3,515 MW) + SunZia Transmission (550-mile HVDC, 3,000 MW capacity) — largest clean energy infrastructure project in US history
Non-recourse project financing for the largest wind project in the Western Hemisphere (3,515 MW) paired with a 550-mile ±525 kV HVDC transmission line from central New Mexico to south-central Arizona. Over 17 years in development. Full construction commenced upon financial close.
$11.00B
Deal Value
3,515MW
Capacity
Wind
Technology
NM
Location
Deal Details
- Deal Type
- Project Finance
- Seller / Sponsor
- Pattern Energy Group
- Buyer / Financier
- Multiple (consortium)
- Deal Value
- $11B
- Stage
- Under Construction
- ISO/RTO
- WECC
- Source
- Renewable Energy World
Capital Structure
$11.0B
Total transaction value
Tranches
- Construction and Term Facilities · BNP Paribas, Credit Agricole CIB, CoBank, MUFG, Wells Fargo and others (joint bookrunners)
- $8.80B
- Tax Equity Term Loan · Banco Santander; Bank of America, GE Vernova Financial Services, Natixis, RBC (joint lead arrangers)
- $2.25B
- Holding Company Facility · Nomura Securities International; CPPIB Credit Investments III (CPP Investments)
- —
Service Providers
Advisory & Legal
- borrowerCounsel
- Skadden, Arps, Slate, Meagher & Flom
- Lender Counsel
- Norton Rose Fulbright; Milbank
Finance Counterparties
Lenders & Capital Providers
- Coord. Lead Arranger
- BNP Paribas; Credit Agricole; CoBank; Desjardins Group; Export Development Canada; ING Capital; Intesa Sanpaolo; KfW IPEX-Bank; MUFG; National Bank of Canada; Natixis; Societe Generale; SMBC; Wells Fargo; BBVA; The Bank of Nova Scotia; Sumitomo Mitsui Trust Bank
- bookrunner
- BNP Paribas; Credit Agricole; CoBank; Desjardins Group; Export Development Canada; ING Capital; Intesa Sanpaolo; KfW IPEX-Bank; MUFG; National Bank of Canada; Natixis; Societe Generale; SMBC; Wells Fargo
- Collateral Agent
- Deutsche Bank
- Lead Arranger
- Santander; Bank of America; GE Vernova Financial Services; Natixis; Royal Bank of Canada
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