energyRe has achieved a significant milestone in advancing the U.S. energy transition with the successful securing of $155 million in project financing and an $85 million tax equity commitment for its ambitious 108 MW Lone Star Solar project and 198 MW BESS, both situated in South Carolina.

Spearheading the financing for this groundbreaking project is a comprehensive package that encompasses construction debt, tax equity bridge facility, and a letter of credit facility. Santander has played a pivotal role as the coordinating lead arranger, with Bank of America providing the crucial tax equity commitment. Notably, the energyRe M&A and Investments teams have been instrumental in steering this compelling transaction toward fruition.

Amidst the current phase of construction, the Lone Star Solar project is on track to become operational by fall, underscoring energyRe’s commitment to project delivery timelines. In a pivotal development last January, the company inked a 10-year Power Purchase Agreement (PPA) with Dominion Energy South Carolina for the Lone Star Solar project, highlighting a robust partnership focused on sustainable energy initiatives. Additionally, Syensqo is primed to acquire all the renewable energy certificates generated by the project, underscoring the significance of this project in contributing toward renewable energy goals.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The energy market is highly volatile, and readers should conduct thorough research before making any investment decisions.