Pattern Energy completes financing for Phoenix solar project

Pattern Energy Group has completed financing and started construction of its 105 MWdc Phoenix Solar Project located in Fannin County, Texas.

ING Capital provided construction and term project financing and tax equity was provided by RBC Community Investments (RBC), a subsidiary of RBC.

“This project is a win-win for Fannin County residents as it creates many benefits, including up to 200 jobs and more than $15 million in revenue for local schools and the county, while generating clean power for 20,000 homes,” said Mike Garland, CEO of Pattern Energy.

Phoenix Solar is expected to be completed in mid-2021. The project has a 12-year power purchase agreement with Digital Realty, a leading global provider of carrier- and cloud-neutral data center, colocation and interconnection solutions.

Fannin County will recognize both immediate and long-term economic benefits from the project. Phoenix Solar is projected to provide more than $12 million in new tax revenue to the Bonham Independent School District and more than $3 million to Fannin County over the life of the project. Additionally, the project will contribute revenue in the form of long-term lease payments to project landowners.

Phoenix Solar will utilize components including First Solar Series 6 modules and NEXTracker NX Horizon trackers.

Mortenson Construction is providing engineering and construction services for the project.

Pattern Energy acquired the development rights to the Phoenix Solar project in 2018 from Alpin Sun, a solar developer. The project expands Pattern Energy’s existing operating platform in Texas where the company has 871 MW of wind power in operation at four facilities across the state.

Earlier this year, Pattern Energy repowered its Gulf Wind Facility in Kenedy County with new turbines.