Singapore-based renewable energy developer, owner, and operator Concord New Energy (CNE) has closed US$400 million in financing for its US clean energy and digital infrastructure portfolio.
The financing includes US$310 million in debt and letter of credit facilities and US$90 million in preferred equity for a Texas solar-plus-storage project.
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The financing supports Project Chisme, comprising 215MW of solar capacity and a 147MW/358 MWh battery energy storage system (BESS). It marks Concord’s first utility-scale project financing in the US.
“Closing US$400 million in financings is an important milestone for CNE as we establish our presence in the United States,” said Mike Luo, vice president of Concord New Energy. “As we witness rapid growth in power demand globally, driven by new industrial load, manufacturing and AI enterprises, we remain committed to developing and deploying the power infrastructure needed to meet that demand in a sustainable way.”
First Citizens Bank, Goldman Sachs Alternatives and Associated Bank led the US$310 million debt and letter of credit financing, while Goldman Sachs Alternatives provided the US$90 million preferred equity investment.
The company said the capital would support its broader US growth strategy across clean energy and digital infrastructure.
Concord New Energy has more than 5GW of installed capacity globally, with operations spanning solar, energy storage, wind and digital infrastructure. The company has expanded across Europe, Asia and North America.
In the US, the firm has secured three 15-year power purchase agreements (PPAs) with EV giant Tesla for 469MWac of US solar capacity, with annual generation expected to reach 1,200GWh once operational.
The portfolio also includes a 172MWac solar project paired with 432MWh of storage under a US$156 million engineering, procurement and construction (EPC) contract. And a separate 147MWac solar project with 361MWh of storage project through its subsidiary NoBull Energy, which is scheduled for completion around July 2027.
CNE has a US development pipeline exceeding 4GW, with initial power delivery from the Tesla-backed projects expected in the first half of 2027.
