US renewable energy developer Swift Current Energy said today it has obtained financing for its 266-MW DC/195 MW AC Tres Bahias Solar project, which is currently under construction in Calhoun County, southeastern Texas.
The company has closed project financing with ING Capital LLC and has secured a tax equity commitment from Morgan Stanley Renewables Inc. Swift Current looks forward to growing its partnership with both companies as it executes on its pipeline of wind, solar and storage projects throughout the US, said chief executive and co-founder Eric Lammers.
The deal was structured to reflect the new US Inflation Reduction Act policy guidance, the company added.
The solar park is expected to come onstream by the end of 2023. US manufacturer First Solar is the panels supplier, while IEA Constructors is managing the construction. Swift Current developed the project developer and will be its long-term owner and operator.
The company currently has more than 1 GW under construction, including the 800-MW DC Double Black Diamond Solar project in Illinois.