Ashtrom Renewable Energy has secured a $270 million green loan for the realisation of the 306 MW/400 MW DC Tierra Bonita solar project in Texas. Reportedly, the funding was organised with five banks, including BHI, a US unit of Bank Hapoalim Group, Bayerische Landesbank, ING Capital, Rabobank, and Societe Generale.
Additionally, Ashtrom Renewable Energy announced the signing of a tax credit transfer agreement to sell the associated production tax credits, valued at about $300 million, to an undisclosed US institutional entity over a ten-year period. Tierra Bonita, which is a $435 million project, will be built on approximately 2,400 acres in Pecos County. Furthermore, the project is under development and is scheduled to open in the fourth quarter of 2024. Moreover, CPS Energy has agreed to a 20 year power purchase agreement for the project.
In October 2022, Ashtrom Renewable Energy signed an agreement with a local company in Greece to develop a 476 MW solar project pipeline. With this deal, Ashtrom Renewable Energy joined the renewable energy market in Greece for the first time. Initially, the company intended to build five solar projects, which might cost between $325 million and $368 million.
