Cider Solar — 674 MWdc / 500 MWac utility-scale solar, Genesee County, New York (largest solar project in NY State)
Aggregate $950M: $869M construction-to-term loan + tax equity bridge + LCs (6 CLAs) + $81M development loan from Voya IM. Acquired from Hecate Energy. Includes agrivoltaics plan. Named 2024 North American Solar Deal of the Year by Proximo Infra.
$950M
Deal Value
500MW
Capacity
Solar
Technology
NY
Location
Deal Details
- Deal Type
- Project Finance
- Seller / Sponsor
- Greenbacker Renewable Energy
- Buyer / Financier
- MUFG, KeyBanc, ING, Intesa Sanpaolo, SocGen, Wells Fargo
- Deal Value
- $950M
- Stage
- Construction
- ISO/RTO
- NYISO
- Source
- GlobeNewswire
Finance Counterparties
Lenders & Capital Providers
- leadArrangers
- MUFG, KeyBanc, ING, Intesa Sanpaolo, Societe Generale, Wells Fargo
- developmentLender
- Voya Investment Management
Related Deals
Wind repowers — Community Wind South (30 MW, MN), Elk (42.5 MW, IA), Hawkeye (37.5 MW, IA) — 110 MW total
Greenbacker Renewable Energy Company → BayernLB, Huntington National Bank
$437M
Cider Solar portfolio — 674 MWdc / 500 MWac utility-scale solar, Genesee County, New York (NYISO Zone A)
Greenbacker Renewable Energy Company (GREC) → Multiple lenders (undisclosed)
$400M+
SunZia Wind (3,515 MW) + SunZia Transmission (550-mile HVDC, 3,000 MW capacity) — largest clean energy infrastructure project in US history
Pattern Energy Group → Multiple (consortium)
$11B
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+
RWE's first US green bonds — two tranches of $1B each (10-year and 30-year maturities) to fund US renewable energy projects across 146 solar, onshore wind, and battery storage sites
RWE AG → Multiple (bond investors)
$2B
Bayou Galion Solar — 127 MWdc solar project, Northeast Louisiana
Recurrent Energy (Canadian Solar) → Microsoft
$160M
Get deals like this in your inbox
Free weekly clean energy deal intelligence. Every Monday.