Exus Renewables North America, a utility-scale renewable energy project developer, announced the closing of $308.2 million financing for a portfolio of solar and wind energy projects in the U.S.
The portfolio comprises the 185 MW Zia Solar Power solar portfolio, located in New Mexico, and the 169 MW Keystone wind project portfolio in Pennsylvania.
Exus secured $149.6 million in financing for the Zia Solar Power portfolio, which comprises nine operational solar projects located across New Mexico, including Deming, Los Lunas, Albuquerque, Moriarty, and Rio Rancho. The solar portfolio is supported by long-term power purchase agreements with Public Service Company of New Mexico, Central New Mexico Electric Cooperative, Columbus Electric Cooperative, and City of Rio Rancho, spanning 20-25 years upon commercial operation.
ING Capital and PNC Capital Markets led the financing, which closed in May.
The company has secured $158.6 million in funding for the Keystone wind portfolio, which comprises the 139 MW Twin Ridges and 30 MW Patton wind projects in Pennsylvania.
KeyBanc Capital Markets acted as the coordinating lead arranger, with Crédit Agricole Corporate and Investment Bank and Société Générale serving as joint lead arrangers. The financing supports the recent repowering of Twin Ridges, extending the project’s operational life and enhancing its efficiency.
“Securing this financing across two distinct portfolios demonstrates the strength of our platform and the market’s confidence in our execution capabilities,” said Jim Spencer, President and CEO of Exus Renewables North America. “From desert solar farms powering data centers to repowered wind turbines in Pennsylvania, we’re building the infrastructure that will define America’s energy future.”
According to Mercom’s recently released 1H and Q2 2025 Solar Funding and M&A report, large-scale project funding increased by 65% in the first half of 2025 compared to the same period in 2024.
Earlier this month, Recurrent Energy, a solar and energy storage project developer and wholly owned subsidiary of Canadian Solar, closed $260 million in project financing and tax equity for the 94 MW Blue Moon Solar project located in Harrison County, Kentucky.
