(Image Credit: NowPower)
Spanish renewable energy developer Greenalia has secured a three-year credit deal worth $200mn to support the development of solar, energy storage and wind projects in the United States.
The credit deal will support the development of a 1.9GW portfolio of solar PV, energy storage and wind projects for the Electrical Reliability Council of Texas (ERCOT) transmission network.
The deal begins Greenalia’s first financing facility in the United States and highlights the developer’s commitment to expanding into the US market.
On February 13, Greenalia’s ERCOT project reportedly broke the record for solar generation registering a peak of 16.7GW of electricity from solar PV.
As it stands, the company’s current project portfolio is concentrated in Texas. The most significant project is the 695MW MISAE II solar project that is under construction.
The Chief Financial Officer of Greenalia, Antonio Fernandez-Montells, highlighted the ERCOT project as a significant factor in Greenalia’s commitment to the US’ renewable energy market.
The company is currently delivering an additional 3GW portfolio through solar, wind and battery storage technologies.
On the whole, solar PV is changing the landscape of Texas’ electricity mix for the better.
In Spain, Greenalia has an additional 40 projects fully operational.
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