US renewables developer EnergyRe has reached financial close on a solar PV portfolio in South Carolina.
The company closed approximately US$370 million in construction and term financing, led by international banks Santander, Bank of America, Natixis and Societe Generale. The company did not disclose the capacity or project makeup of the portfolio when contacted by PV Tech.
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Ryan Brown, chief operating officer of EnergyRe, said: “These projects represent the scale, innovation and collaboration that define EnergyRe’s approach to reimagining America’s energy future.”
The company closed a US$240 million deal last year to finance the 108MWdc/198MWh Lone Star solar-plus-storage project in South Carolina, which it says is one of the largest solar-plus-storage projects in the Southeastern US.
In May, it inked a renewable energy certificate (REC) purchase deal with Google in South Carolina. The deal will see the tech and data giant purchase RECs from a 600MW solar PV and energy storage project portfolio in the state to offset power used at its data centres at its Berkeley County Campus.
Fellow Silicon Valley giant, Meta, has also signed offtake agreements for solar projects to power its data centres in South Carolina. In August, US-based developer Silicon Ranch and utility Central Electric Power Cooperative announced plans to build a 100MW solar project to provide RECs to Meta for its data centre in Aiken, South Carolina.
Back in 2023, EnergyRe secured a US$1.2 billion deal to support the building of both solar-plus-storage and transmission infrastructure in the US.
