ContourGlobal has completed a $350 million renewable energy project financing in the US. The financing supports the company’s 324 MWp Black Hollow Sun solar project in Colorado, which comprises 185 MWp currently operational at the Black Hollow Sun I site and an additional 139 MWp under construction. This transaction includes both a tax equity component and a debt financing package.
The tax equity investment was provided by Tyr Energy, whilst the debt financing was arranged with a consortium of international lenders, including Crédit Agricole CIB, ING Capital LLC, Intesa Sanpaolo, Mizuho, and MUFG. The deal was supported by CRC-IB as financial advisor, with Norton Rose Fulbright US LLP acting as the New York counsel and Davis Graham & Stubbs LLP acting as Colorado counsel. Tyr Energy was also advised by CRC-IB, while Milbank LLP acted as the New York counsel and Husch Blackwell LLP acting as the Colorado counsel for both the tax equity and debt financing arrangements.
The Black Hollow Sun project will deliver power to the Platte River Power Authority, serving several cities in Colorado. Phase II of the project is expected to be completed by the end of 2026. Upon the completion of Phase II, the total financing is expected to exceed $421 million. Once fully operational, the project will supply clean electricity sufficient to power around 73,000 homes annually.