trending Market Intelligence /marketintelligence/en/news-insights/trending/PgpRXo9Mq1qVgg3NsgTniA2 content esgSubNav
In This List

Cubico secures financing for 162-MW Texas solar project

Blog

Despite turmoil, project finance remains keen on offshore wind

Case Study

An Energy Company Assesses Datacenter Demand for Renewable Energy

Blog

Japan M&A By the Numbers: Q4 2023

Video

See the Big Picture: Energy Transition in 2024


Cubico secures financing for 162-MW Texas solar project

Cubico Sustainable Investments has reached financial close on the 162-MW Wagyu solar project in Brazoria County, Texas.

HSBC, Nord LB and Rabobank provided project finance debt, while US Bank provided tax equity, according to an Oct. 16 news release.

Wagyu is the fourth project to reach financial close in the 580-MW solar portfolio Cubico acquired from Cypress Creek Renewables LLC in January. The same financing parties also participated in the 75-MW Palmetto Plains and Huntley projects.

Construction is currently underway at Wagyu under a contract with Renewable Energy Systems Ltd. The project has a 15-year corporate power purchase agreement with Starbucks Corp. and a 12-year physical hedge from BP PLC.

Cubico is owned by Canadian pension funds Ontario Teachers’ Pension Plan and PSP Investments.