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
- Under Construction
- ISO/RTO
- NYISO
- Source
- GlobeNewswire
Capital Structure
$950M
Total transaction value
Finance Counterparties
Lenders & Capital Providers
- leadArrangers
- MUFG, KeyBanc, ING, Intesa Sanpaolo, Societe Generale, Wells Fargo
- developmentLender
- Voya Investment Management
Related Deals
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Cider Solar portfolio — 674 MWdc / 500 MWac utility-scale solar, Genesee County, New York (NYISO Zone A)
Greenbacker Renewable Energy Company (GREC) → KeyBanc Capital Markets (refinancing lead), MUFG, ING Capital, Intesa Sanpaolo, Société Générale, Wells Fargo
$400M+
Cider Solar Farm— Solar project, NY (NYISO Genesee), 500 MW, COD 2027
Hecate Energy Cider Solar LLC → NYSERDA
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Shoreham Solar Commons (Tallgrass Solar) — Solar project, NY (NYISO), 24.9 MW, COD 2018.
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