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

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 8, 2025
Frontier Energy plans to expand its Waroona Renewable Energy Project into a renewable energy precinct by 2031, targeting up to 1GW solar.
October 7, 2025
Econergy will acquire 100% stake in the 155MW Ratesti solar project in Romania, further expanding its European renewable energy portfolio.
October 7, 2025
Juniper Green Energy through its subsidiary Juniper Green Sigma Eight has signed a 70MW power purchase agreement with renewable energy giant Tata Power. 
October 7, 2025
OpenSolar has secured US$13.1 million in equity financing from technology investors, including Titanium Ventures, Google and others.
October 7, 2025
US independent power producer (IPP) Arevon has begun operations at two utility-scale solar projects in Indiana.
October 7, 2025
Rystad Energy has said that Queensland’s utility-solar assets were the best-performing solar PV power plants in September 2025.

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