US energy company NorthStar Clean Energy has secured construction-to-term financing for a 250MW solar PV portfolio in Michigan.
The company – a subsidiary of Michigan-based energy utility CMS Energy – said the US$334 million financing will support the construction of the 200MW Branch solar project in Branch County, Michigan, and the 50MW Genesee Solar project in Genesee county. The Branch project will be the company’s largest asset in Michigan.
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Northstar said that BNP Paribas, MUFG and SMBC were the lead arrangers of the funding transaction.
Michigan is not a leading state for solar deployments. The Solar Energy Industries Association (SEIA) lists it as 26th out of the 50 US states for cumulative solar capacity as of the end of 2024, with just over 1,8GW of total capacity. The utility-scale sector contributes the overwhelming majority of Michigan’s yearly capacity additions.
The development from NorthStar Clean Energy would be a significant one for the state’s solar sector; its 250MW is over half of the roughly 450MW of total solar capacity installed in 2024.
There is other work ongoing to increase the share of solar PV in Michigan. In October, DTE Energy commissioned a 150MW PV plant in Michigan; the company has approval from the Michigan Public Service Commission to develop 6.5GW of solar PV capacity in the state by 2042.
NorthStar operates solar, wind, biomass and natural gas plants across various US states. It says it has a pipeline of over 1GW of renewable energy assets.
PV Tech publisher Solar Media will be organising the fourth edition of Large Scale Solar USA in Dallas, Texas 29-30 April. After a record year for solar PV additions in the US, the event will dive into the ongoing uncertainties on tariffs, tax credits and trade policies as more domestic manufacturing becomes operational. Other challenges, such as the interconnection queues and permitting, will also be covered in Dallas. More information, including how to attend, can be read here.
