Enlight Renewable Energy Closes Construction Financing for Quail Ranch Project in New Mexico
Enlight Renewable Energy has secured $243 million in construction financing for its Quail Ranch project in New Mexico, which will feature 128 megawatts of solar generation and 400 megawatt-hours of battery storage. The project is expected to be completed by the end of this year and has a 20-year power purchase agreement with the state's Public Service Company. The financing was facilitated by BNP Paribas, Credit Agricole, Natixis, and Norddeutsche Landesbank. The company's shares rose 0.2% in Monday trading.
Enlight Renewable Energy said Monday it has raised $243 million in construction financing for the Quail Ranch project near Albuquerque, New Mexico, through its Clenera Holdings unit.
The company intends to complete the project, which combines 128 megawatts of solar generation with 400 megawatt-hour of battery storage capacity, towards the end of this year, it added.
Enlight Renewable said it has secured offtake for both generation and storage volumes by a 20-year busbar power purchase agreement with the state's Public Service Company.
The renewable energy projects company said it raised the financing through BNP Paribas Securities Corp., Credit Agricole, Natixis Corporate & Investment Banking, and Norddeutsche Landesbank Girozentrale.
Shares of the company were up 0.2% in recent Monday trading.
