Intersect Power began the commercial operation of its Lumina Solar project, located in Scurry County, TX, on January 3, 2024. The Lumina project generates 828 MWp/640 MWac of reliable solar energy, enough to power more than 243,000 homes for one year. The project created more than 900 jobs at peak construction, all of which adhered to a commitment to fair equitable compensation, providing prevailing wages throughout the entire development cycle.
Furthermore, renewable energy credits generated by the Lumina project will be purchased by two Fortune 100 companies. Funding for the project’s construction and operations was secured as part of the broader portfolio financing announced September, 2023, when the company closed on portfolio level term debt, tax equity, and construction financing commitments from leading financial institutions and investors.
Reportedly, the portfolio term debt was provided by certain funds and accounts managed by HPS Investment Partners, and other Co-Investors. The Tax Equity was provided by U.S. Bancorp Impact Finance and two Fortune 100 companies. Construction debt was provided by Coordinating Lead Arrangers MUFG and Santander Corporate & Investment Banking, along with CoBank, KeyBanc Capital Markets, Bank of America, Helaba, and Nord/LB as Joint Lead Arrangers.
