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174 Power Global secures financing for 150-MW solar project in Texas

Irvine, Calif.-headquartered solar developer 174 Power Global Corp. has secured construction financing for the 150-MW first phase of the Oberon solar project in Ector County, Texas.

Credit Agricole Corporate and Investment Bank and the Korea Development Bank are providing construction and term debt for the $210 million project. J.P. Morgan Chase Bank NA is providing an eight-year solar hedge for a portion of the project output.

Additionally, an undisclosed tax equity investor has committed to provide tax equity for the first phase, according to a Sept. 11 news release.

Hanwha Q CELLS will supply solar modules for the project, which is scheduled for completion in spring 2020.

174 Power Global is a subsidiary of Hanwha Group.