Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project
Summary
Texas site is one of nations largest single-phase solar projects, will monetize more than $500 million of Production Tax Credits (PTCs) over 10 yearsDALLAS, Jan. 31, 2024 /PRNewswire/ -- Vesper Energy, a developer, owner, and operator of utility-scale renewable energy assets, today announced the closing of financing for its Hornet Solar project. The asset will deliver renewable energy to communities throughout Texas, provide grid stability, and mitigate price volatility in ERCOT. "The Hornet Solar project, covering more than six square miles in Swisher County, TX, will generate 600 MWac, enough to power 160,000 homes annually. "This transaction demonstrates Advantage Capitals ability to structure creative financing solutions for a dynamic and growing renewable energy market. In recent years, the company has invested in over 100 non-residential projects (including C&I, community solar, and utility-scale) in addition to more than 10,000 residential rooftop systems throughout the U.S. and its territories.