- Swiss company, Advanced Power secures funds for solar project
- The project to be constructed in Texas.
- Financing to be provided by three banks.
Advanced Power, a Swiss renewable project developer has reached the financial closing for its Cutlass photovoltaic farm project. The project will be constructed in Ford Bend County, Texas, and will have a capacity of 140MW.
Advanced Power made the announcement on Wednesday, and the solar project is co-owned by Advanced Power, Fuyo General Lease Co., and Eneos Corp. Financing for the project will be provided by three banks: CIT Bank, Amalgamated Bank, and Credit Agricole Corporate and Investment Bank.
Jonathan Winslow, Advanced Power’s chief operating officer, development, said the Cutlass solar project is the first under Advance Power’s +1 GW solar development pipeline to reach a financial close. Although the company will act as the construction manager for the project, Bechtel will act as the contractor for engineering, procurement, and construction (EPC).