Vesper Energy closes $590 million in financing for its Hornet Solar Project

In Texas, Vesper Energy announced the closing of financing for its Hornet Solar project. The firm said that the asset will deliver renewable energy to communities throughout Texas, provide grid stability, and mitigate price volatility in ERCOT. “Closing project financing and a long-term purchase agreement for the PTCs on a large project in west Texas is complex,” said Vesper Energy’s Chief Financial Officer Robert Scheuermann. “We are proud to invest in Hornet Solar alongside top-tier lenders and investors. This closing is a testament to the value Vesper Energy generated in the asset.” The Hornet Solar project, covering more than six square miles in Swisher County, Texas, will generate 600 MWac, enough to power 160,000 homes annually. Vesper secured a $590 million debt financing package for the Hornet Solar project, consisting of a construction-to-term loan and letter of credit facility.

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