US solar developer Swift Current Energy has closed financing on a 266MW solar PV project in Southeast Texas.
Financing was secured with financial services firm ING Capital as the sole lead arranger, while the developer also secured a tax equity commitment from Morgan Stanley Renewables.
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The ‘Tres Bahias’ solar project is currently under development with commercial operation expected towards the end of this year. The plant will be owned and operated by Swift Current.
Modules for the project will be supplied by thin-film manufacturer First Solar, with whom Swift Current has a 2GW module supply agreement that will be delivered between 2025 and 2026.
For the engineering, procurement, and construction (EPC) of the project the developer selected EPC provider IEA Constructors.
As of April 2023 the developer had more than 1GW of solar PV projects under construction, including the 800MW solar PV project in Illinois it started working on last March and is expected to be operational by fall 2024.
Eric Lammers, CEO and co-founder at Swift Current Energy, said: “We are grateful for the support of ING and Morgan Stanley on the Tres Bahias Solar project and we look forward to growing our partnership with both companies as we execute on our pipeline of wind, solar and storage projects located throughout the US.”