NorthStar Clean Energy, a renewable energy project developer and wholly owned subsidiary of CMS Energy, secured up to $334 million in construction-to-term financing for the development of two solar projects in Michigan. BNP Paribas, MUFG, and SMBC acted as the lead arrangers for the transaction.
Hunton Andrews Kurth LLP, Arnold & Porter Kaye Scholer LLP, Bodman Plc, and Warner Norcross + Judd LLP provided legal counsel to the company on the transaction.
The projects include a 200 MW Branch solar project in Branch County and a 50 MW Genesee solar project in Genesee County.
“Our Michigan roots run deep,” said Brian Hartmann, President of NorthStar Clean Energy. “And we’re proud to invest in projects that not only generate clean power but also create jobs and strengthen local economies.”
“With these projects, we continue to solidify our leadership in renewable energy while making a meaningful impact in the communities where we live, work, and play,” Hartmann added. “We remain focused on delivering clean and affordable energy to our customers while contributing to a more sustainable energy future for all.”
The company owns and operates more than 2 GW of generating capacity across the U.S., including solar energy projects in Michigan, Ohio, and Arkansas, wind projects in Texas and Ohio, and over 1 GW of renewable energy projects in the development pipeline.
According to Mercom’s Annual and Q4 2024 Solar Funding and M&A report, large-scale project funding in 2024 increased 21% year-over-year.
Earlier this month, Arevon Energy, a solar and energy storage project developer, announced closing $509 million in financing for the 430 MWdc Kelso 1 & 2 solar projects in Scott County, Missouri. The financing package comprises a $245 million bridge loan, a $172 million construction loan, and $92 million of credit support.
