Leeward Renewable Energy secures US$1.25 billion financing for 890MW US portfolio

Facebook
Twitter
LinkedIn
Reddit
Email
The facility will fund six solar, wind and battery storage projects to be completed throughout 2024 and 2025. Credit: Leeward Renewable Energy.

US developer Leeward Renewable Energy (LRE) has secured a US$1.25 billion construction warehouse facility to support the construction of its clean energy portfolio in the US.

The facility will fund six solar, wind and battery storage projects with a combined capacity of over 890MW. Projects are expected to be completed and operational throughout this year and 2025.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Financial entity Wells Fargo Bank is the administrative agent for the three-year credit facility, with Wells Fargo Securities, LLC and Canadian Imperial Bank of Commerce acting as coordinating lead arrangers, bookrunners and green loan coordinators.

“LRE has experienced tremendous growth, and this financing arrangement supports our momentum by funding the construction of renewable energy projects in our development pipeline over the next three years,” said Chris Loehr, LRE’s senior vice president of finance.

LRE continues to secure funding to build its renewables portfolio across the US. Last November, the developer raised US$580 million in tax commitments and debt facilities for two projects, including a 179MW solar PV plant in the US state of Arizona. Similarly to this warehouse facility, Wells Fargo was among the banks that provided the tax equity commitment in November.

The renewables developer currently has an operational portfolio of over 3GW and more than 30GW of projects in development, spanning over 130 projects. The developer has a pipeline of solar PV projects spanning across 20 US states. It recently reached commercial operations at a 200MW solar PV plant in Texas. This project had previously secured a power purchase agreement with telecommunications giant Verizon back in 2022.

17 June 2025
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 17-18 June 2025, will be our fourth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2026 and beyond.
7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.

Read Next

June 9, 2025
Solar manufacturer Qcells has launched a recycling arm, called EcoRecycle, and a recycling plant in the US state of Georgia.
June 9, 2025
Growing political headwinds threaten to dent US solar manufacturing and project deployment, despite a strong start to 2025.
June 9, 2025
US residential solar installer Sunnova has laid off more than half of its workforce, while a subsidiary from Delaware filed for Chapter 11 bankruptcy.
June 6, 2025
rPlus Energies has secured more than US$500 million for an 800MW solar-plus-storage project in Emery County, Utah, US.  
June 5, 2025
Policy uncertainty in the US is likely to disrupt investment in clean energy, according to a recent report from Crux.
June 5, 2025
Investment in clean energy and grids will reach US$2.2 trillion in 2025, double the expected investment into fossil fuels this year, according to data from the International Energy Agency (IEA).

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
September 16, 2025
Athens, Greece