Advantage Capital has committed to provide a $137 million investment to Sabanci Renewables, to complete financing for the 232 MW Oriana Solar Project.
Located 120 miles southeast of San Antonio, Texas in Victoria County, Oriana is currently under construction and includes 425,000 solar modules to be installed on 1,100 acres. Operations are expected to commence next spring.
Advantage Capital’s investment, which leverages Investment Tax Credits under the Inflation Reduction Act, will provide the remaining capital Sabanci Renewables needs to complete the project’s construction.
“We are pleased to expand our partnership with Sabanci Renewables to support building out the power grid in Texas through another utility-scale solar project,” says Tom Bitting, managing director at Advantage Capital.
“Oriana will have a profound impact on the Gulf Coast region by increasing the clean power supply to critical energy load centers, and Victoria County will reap the added benefit of new job creation for local workers.”
A&O Shearman and K&L Gates served as counsel for Advantage Capital on the transaction, and Troutman Pepper and Husch Blackwell served as counsel for Sabanci Renewables. Carbon Reduction Capital also served as exclusive financial advisor.
Last December, Sabanci Renewables closed $185 million in tax equity financing with Advantage Capital for the Cutlass Solar II project outside of Houston. Cutlass II was completed and commissioned in May.
Sabanci Renewables is a North American subsidiary of Sabanci Holding.
The post Sabanci Renewables Completes Oriana Solar Project Financing with Advantage Capital appeared first on Solar Industry.
I’m not a financial pro, but here’s some advice:
Don’t live on a budget. Make a lot of money and live far beneath your means. What value does luxury actually bring to your life, especially if it makes you nervous about running out of cash?
As I told my kids when they were growing up, “Unless you’re completely shallow, showing off your money is an idiotic thing to do. You make false friends and have people glomming onto you to sell you stuff you really don’t need.”
Warren Buffett still lives in a modest house in Nebraska, a state in which he could buy an entire country. Maybe there is something about him and his values that could benefit you.
I see.
There’s not enough land in Spain to support rooftop and ground-mounted solar at a fraction of the cost.
LOL.
It’s possible that right now, there are other civilizations observing the human race, studying us from afar, and noticing our decline into savagery and eventual extinction by turning billionaires into trillionaires.
People say that the principal weakness of human beings is that we can’t plan for the future as a species. Dogs are arguably even worse, though they aren’t consumed with greed. They don’t plot the starvation of millions of other dogs so they themselves can have enough food to last a billion years.
As an elderly man, I’ll be leaving this planet soon, but I won’t cease pondering this until my heart stops beating.
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