Invenergy, a privately-held global developer and operator of sustainable energy solutions, has announced the completion of construction financing for the first phase of the Samson Solar Energy Center (Samson Solar) in northeast Texas, US. The first phase includes 250 MW of the total 1310 MW project, which will be one of the largest solar energy facilities in the country upon completion.
Santander acted as Admin Agent, Coordinating Lead Arranger, and Bookrunner, and Société Générale and Caixabank acted as Joint Lead Arrangers for the financing, which includes a construction loan, letter of credit facility, and back-leverage term loan.
Located in Lamar, Red River, and Franklin Counties, Texas, Samson Solar is being constructed and will commence operation in five phases. With the first phase currently under construction, the full project is slated to be operational in 2023.
Announced in November 2020, Samson Solar supports the sustainability objectives of five major consumer brands and will supply cost-effective, reliable power to three Texas municipalities through long-term power purchase agreements.
Samson Solar is a US$1.6 billion capital investment in northeast Texas. Over the life of the project, it will directly invest US$450 million in the local economy through new tax revenues and lease payments to participating landowners. The complete 1310 MW project will generate enough electricity to power 300 000 American homes.