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Engie North America has signed a tax equity financing for its renewables portfolio. The portfolio consists of 2.0GW of renewable assets, comprised of 1.5GW of onshore wind and 0.5GW of utility-scale solar PV projects (11 farms in total).
These assets are located in key markets, including Electric Reliability Council of Texas (ERCOT), Southwest Power Pool (SPP) and Pennsylvania, New Jersey, Maryland Power Pool (PJM). Through the transaction and subject to meeting certain funding conditions, Engie North America has secured financing through tax equity commitments of up to US$ 1.6 billion on the projects through Bank of America and HSBC. Projects will be funded as they are commissioned beginning in April 2020. As part of this transaction, Engie North America received proceeds for two wind farms commissioned in the past week: East Fork, a 196MW wind project in Thomas County, Kansas and Jumbo Hill, a 161MW wind project located in Andrews County, Texas.
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