Engie North America completes financing of three renewable projects
Engie North America completed financing for its Iron Star and Priddy wind projects and its Hawtree solar project.
Iron Star is located in Ford County, Kan., while Priddy is in Mills County, Texas. The Hawtree solar project is in Warren County, North Carolina. Combined, the three facilities will produce approximately 665 MW of clean energy. They are all owned by affiliates of Engie. The projects are part of the more than 4 GW portfolio of renewable energy assets currently managed by the company in North America.
“We are excited to again collaborate with Bank of America and Wells Fargo, among others, to fund our growing renewables portfolio. We are also happy to be joined by a new equity partner in InfraRed – we are creating long-term relationships that are helping to accelerate the journey to carbon neutrality across the United States,” Eric De Caluwe, head of Acquisitions, Investments and Financial Advisory (AIFA) for Engie North America, said.
The Iron Star facility includes 62 wind turbines capable of producing 4.8 MW each, while the Priddy project has 63 turbines of the same size and output per turbine. The Hawtree project’s installed capacity is equal to 65 MWac. The power produced at the projects will be sold under previously agreed long-term power purchase agreements.
“ENGIE’s deep operating experience of renewable projects coupled with our relationships with leading financial institutions such as Bank of America, Wells Fargo, and InfraRed provides the strongest foundation possible to meet the need for major expansion of wind, solar, and storage capacity across North America,” David Carroll, chief renewables officer, Engie North America, said. “With more than 4,500 MW of renewables in operation or construction in North America, building strong collaborations such as these is a cornerstone of our approach”.
The three projects were constructed in 2021 and early 2022. They can produce enough renewable power to meet the needs of around 200,000 average American homes.
