US-based renewable power developer Invenergy has finalized a financing deal of US$1.27 billion to construct a 677MW renewables portfolio, which includes a 189MW solar PV project in Kansas, US.
The Pixley solar PV project, situated in Barber County, Kansas, is set to be acquired by Public Service Company of Oklahoma (PSO), a subsidiary of American Electric Power (AEP), and is scheduled to commence commercial operations in Q1 2025.
The funding was secured from Natixis Corporate and Investment Banking and will be used to build the portfolio, comprising three wind projects in Texas and Kansas with a combined capacity of 488MW, in addition to the Pixley solar PV project.
In a statement, an Invenergy spokesperson commented on the financing, saying, “We are thrilled to secure this funding, which will enable us to advance our renewable energy projects and contribute to a more sustainable future.”
Last year, Invenergy also secured a US$1.5 billion revolving credit facility from Natixis Corporate & Investment Banking. This credit facility is aimed at supporting Invenergy's expanding project development pipeline and is tied to key performance indicators, including an increase in greenhouse gas emissions avoided related to Invenergy's assets and a health and safety metric.
