sPower US$786 million to build 9 utility-scale solar projects in California

October 6, 2016
Facebook
Twitter
LinkedIn
Reddit
Email
sPower said it had secured a tax equity investment and syndicated construction and term loan facility totalling US$786 million to build 9 solar projects in Lancaster, California with a capacity of 339MW. Image: sPower

Independent power producer sPower said it had secured a tax equity investment and syndicated construction and term loan facility totalling US$786 million to build 9 solar projects in Lancaster, California with a capacity of 339MW. 

sPower said that KeyBanc Capital Markets acted as lead arranger for the syndicated debt facility that totalled US$519 million, which included KeyBank N.A., CIT Bank N.A., CoBank ACB, Coöperatieve Rabobank U.A., Norddeutsche Landesbank Girozentrale (Nord/LB), Siemens Financial Services and Wells Fargo Bank.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

“With a company that is growing so quickly, recycling capital is incredibly important,” said Ray Henger, sPower SVP structured finance. “Financing a large portfolio build out with a single tax equity provider and a syndicate of banks creates substantial efficiencies.”

sPower noted that two of the PV power plant projects had already achieved COD, while most of the remaining projects were already under construction.

Read Next

October 17, 2025
Norwegian renewable energy firm Scatec has signed lease agreements for 64MW of solar PV and 10MWh of energy storage capacity in Liberia and Sierra Leone.
October 16, 2025
Masdar and Turkey have entered the final stage of US$1 billion agreement to develop the 1.1GW plant in Bor, Niğde Province, central Turkey.
October 16, 2025
US utility-scale solar additions grew by 56% in 2024, reaching 30GW from 2023’s 19GW and representing over 54% of all new electricity generation capacity added in the country last year.
October 16, 2025
Jakson Green and Blueleaf Energy have reached financial close for the 840MWp Bikaner solar projects in Rajasthan, western India. 
October 16, 2025
Off-grid solar company Sun King has revealed plans to set up manufacturing operations in Kenya and Nigeria.
October 15, 2025
A report by IRENA and others has highlighted the need for yearly renewable energy deployments to almost double between now and 2030.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK