Hornet Solar — 600 MWac (745 MWdc) utility-scale solar, Swisher County, Texas (ERCOT)
$590M construction-to-term debt led by MUFG; Nord/LB and Santander as Mandated Lead Arrangers. $500M PTC purchase by Advantage Capital — one of the largest PTC transferability transactions in the IRA era. One of the largest single-asset Texas solar financings of 2024.
$590M
Deal Value
600MW
Capacity
Solar
Technology
TX
Location
Deal Details
- Deal Type
- Project Finance
- Seller / Sponsor
- Vesper Energy
- Buyer / Financier
- MUFG (lead), Nord/LB, Santander; Advantage Capital (PTC)
- Deal Value
- $590M construction-to-term + $500M PTC purchase
- Stage
- Construction
- ISO/RTO
- ERCOT
Finance Counterparties
Lenders & Capital Providers
- constructionDebtArrangers
- MUFGNord/LBSantander
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