ENGIE Secures Financing for 65 MW Hawtree Solar Project in North Carolina

ENGIE North America (ENGIE), a U.S.-based electric utility, completed tax-equity financing for its 65 MW Hawtree solar project in Warren County, North Carolina.

Investors include Bank of America, Wells Fargo, and InfraRed Capital Partners (US), who provided equity investments for the project.

The solar project is part of the company’s more than 4 GW portfolio of renewable energy assets currently managed by the company across North America.

The project was constructed by early 2021.

The renewable energy produced will be sold under 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,” said David Carroll, Chief Renewables Officer, ENGIE North America.

“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”, added said David Carroll.

The funding amount raised through large-scale project funding deals announced during 2021 came to $18.7 billion, according to the Mercom’s 2021 Solar Funding report.

Earlier this month, European solar power producer AMPYR Solar Europe (ASE), a joint venture between AGP Sustainable Real Assets, Hartree Partners, and NaGa Solar, secured $454.7 million facility from CarVal Investors to develop over 2 GW of the solar projects by 2025.

Solaria, a solar energy project developer, has reached an initial in-principle and non-binding agreement with ABN AMRO, Commerzbank, and the European Investment Bank (EIB) for the long-term financing of $415.5 million for its 736 MW of solar PV projects in Spain.