Topaz Solar Farms has appointed BNY Mellon as its paying agent, depositary agent, indenture trustee and registrar for a €2.4 billion financing project. Topaz will use the funds to construct a 550MW solar power plant in San Luis Obispo County, California.
Topaz will receive services from BNY Mellon, such as processing principal and interest payments. BNY Mellon has clients in 20 countries, including government agencies and financial institutions.
"With regulatory requirements driving energy companies to find cleaner ways to produce renewable energy, it's becoming increasingly important to identify and build economically viable alternatives to electricity generated by fossil-fuels," said Alex Tsarnas, head of U.S. corporate and insurance market segments at BNY Mellon corporate trust. "Our appointment by Topaz Solar Farms highlights our experience in administering a wide range of financings and reflects our commitment to delivering client-focused solutions that serve the evolving needs of the utility industry."