- BayWa r.e. has secured $115M with Nomura to deploy utility-scale solar and storage in the US.
- The credit facility will support projects totaling 1.1 GW of solar and 188 MWh of battery storage.
BayWa r.e. has secured a $115-million credit facility with global financial services firm Nomura to support the development of utility-scale solar and solar+storage projects as it continues to grow its footprint in the US clean energy market.
The company said the credit facility would initially support projects totaling 1.1 GW of solar and 188 MWh of battery storage in several states, including North Carolina, Illinois, Kentucky, Arkansas, and Washington. The projects are expected to be brought online starting in 2024 through 2026.
CEO of BayWa r.e.’s solar division, Fred Robinson, said the credit facility allows the company to accelerate its pipeline growth and capitalize on incentives for clean energy deployment within the Inflation Reduction Act.
BayWa r.e. Solar Projects LLC is a fully integrated utility-scale solar developer in North America overseeing all aspects of development from site origination through long-term operations and asset management. Since 2014, the company has brought more than 1 GW online and manages more than 500 MW.