US invests 11 billion USD for large-scale green power project SunZia

Renewable energy infrastructure developer Pattern Energy recently announced that it secured financing worth 11 billion USD to begin the construction of the SunZia Wind and Transmission projects, marked as some of the largest green energy infrastructure projects in the US.

ESG Today reports that San Francisco-based Pattern Energy operates wind, solar, transmission and energy storage projects, with an operational portfolio of 6 GW in the US, Mexico, Japan and Canada. Additionally, the company is invested in upcoming projects totaling 25 GW.

SunZia is a green power project located in New Mexico and it is expected to produce 3.5 GW of power, which would be enough to power 1.2 million homes. The transmission power lines have a length of around 844 kilometers and will connect New Mexico and south-central Arizona. SunZia could start generating power in 2026.

Green victory: fossil power, less than a quarter of Europe's power sector

Daniel Elkort, Executive Vice President at Pattern Energy, said that "the size and scale of both the SunZia project and this multifaceted financing show that the renewable energy space can secure attractive capital at levels previously only seen in traditional generation."

The 8.8 billion green loans were provided by 15 North American, European and Japan-based banks, while Nomura and CPP Investments provided equity capital for the project.

Citeste si