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Exus Renewables North America Achieves Significant Growth with Completed Financing for US-Based Renewable Energy Projects

Strategic Insights

— 2 min read

Exus Renewables North America has made a substantial leap in its expansion across diverse markets and technologies by successfully completing financing for several US-based utility-scale renewable energy projects totaling $308.2 million. The transactions include the 185 MW Zia Solar Power solar portfolio in New Mexico and the 169 MW Keystone wind portfolio in Pennsylvania. This achievement demonstrates the company's commitment to driving sustainable growth in the renewable energy sector and advancing clean energy solutions.

Key Takeaways:

  • Exus secured $149.6 million in financing for the Zia Solar Power solar portfolio, consisting of nine operational solar farms strategically located across New Mexico, including Deming, Los Lunas, Albuquerque, Moriarty, and Rio Rancho.
  • The 185 MW portfolio is supported by long-term power purchase agreements with Public Service Company of New Mexico, Central New Mexico Electric Cooperative, Columbus Electric Cooperative, and City of Rio Rancho, spanning 20-25 years from commercial operation.
  • Exus also completed $158.6 million in financing for the Keystone wind portfolio, consisting of the Twin Ridges (139 MW) and Patton (30 MW) wind projects in Pennsylvania.
  • KeyBanc Capital Markets served as Coordinating Lead Arranger with Crédit Agricole Corporate and Investment Bank and Societe Generale as Joint Lead Arrangers for the Keystone wind portfolio financing.
  • The portfolio benefits from diverse offtake arrangements, with Vitol serving as the primary counterparty across the assets for power purchase agreements and renewable energy certificates.
  • "Securing this financing across two distinct portfolios demonstrates the strength of our platform and the market's confidence in our execution capabilities," said Jim Spencer, President and CEO of Exus Renewables North America.
  • Exus Renewables North America has over 5 gigawatts in its total portfolio and 764 MW is now operating or under construction, expanding its operational footprint while contributing to the nation's decarbonization efforts and clean energy goals.
  • The company focuses on developing, repowering, and managing renewable energy assets as part of its mission to drive sustainable growth in the renewable energy sector.

Statistics:

  • $308.2 million: Total financing for US-based utility-scale renewable energy projects
  • $149.6 million: Financing secured for the Zia Solar Power solar portfolio
  • $158.6 million: Financing secured for the Keystone wind portfolio
  • 185 MW: Capacity of the Zia Solar Power solar portfolio
  • 169 MW: Capacity of the Keystone wind portfolio
  • 20-25 years: Length of long-term power purchase agreements for the Zia Solar Power portfolio
  • 90 employees: Number of employees operating from Exus Renewables North America's offices in Pittsburgh, New York, and Albuquerque
  • 5 gigawatts: Total capacity of Exus Renewables North America's portfolio
  • 764 MW: Capacity of Exus Renewables North America's operating or under construction portfolio

Sources:

  • Exus Renewables North America
  • ING Capital
  • PNC Capital Markets LLC
  • KeyBanc Capital Markets
  • Crédit Agricole Corporate and Investment Bank
  • Societe Generale
  • Vitol

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