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New Energy World™
New Energy World™ embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low-carbon technologies.
Largest clean energy infrastructure project in US history
10/1/2024
News
Pattern Energy Group has closed a $11bn financing package on what is claimed to be the largest clean energy infrastructure project ever to be built in the US.
The SunZia Wind and SunZia Transmission projects, now under construction, will bring clean power to 3 million Americans and over $20bn in expected economic impacts.
The 3.5 GW SunZia Wind facility will be built across Torrance, Lincoln and San Miguel Counties in New Mexico. It will be paired with SunZia Transmission, an 885 km-long, 525 kV HVDC line between central New Mexico and south-central Arizona with 3 GW of transmission capability.
The financing for the construction and term facilities, amounting to about $8.8bn, was provided by a consortium of international banks including BNP Paribas, Crédit Agricole Corporate and Investment Bank, and MUFG Bank, among others.
The financing also includes a $2.25bn in tax equity term loan facility, provided by Santander Bank, with additional support from Bank of America, GE Vernova’s Financial Services business, and others.
Hunter Armistead, Chief Executive Officer, Pattern Energy, comments: ‘Our hope is this successful financing of the largest clean energy infrastructure project in American history serves as an example for other ambitious renewable infrastructure initiatives that are needed to accelerate our transition to a carbon-free future.’
