energyRe Secures $155 Million in Project Financing and $85 Million Tax Equity Commitment for 108 MW Solar and 198MWh Battery Energy Storage System (BESS) for the Lone Star Project
CHARLESTON, S.C., April 29, 2024 /PRNewswire/ -- energyRe today announced that it has secured $155 million in project financing and a $85 million tax equity commitment for its 108 MWdc Lone Star Solar project and 198MWh Battery Energy Storage System (BESS), one of the largest battery systems in South Carolina. Lone Star Solar is under construction and is expected to be operational by Fall 2024.
- CHARLESTON, S.C., April 29, 2024 /PRNewswire/ -- energyRe today announced that it has secured $155 million in project financing and a $85 million tax equity commitment for its 108 MWdc Lone Star Solar project and 198MWh Battery Energy Storage System (BESS), one of the largest battery systems in South Carolina.
- Lone Star Solar is under construction and is expected to be operational by Fall 2024.
- The $155 million in project financing for Lone Star Solar includes construction debt, tax equity bridge facility and letter of credit facility with Santander acting as the Coordinating Lead Arranger.
- In January 2023, energyRe announced a 10-year power purchase agreement with Dominion Energy South Carolina (DESC) for Lone Star Solar.