Solar Frontier Americas completes financing for 210 MW solar project in California

Solar Frontier Americas Inc. (SFA), US-based renewable energy business of Idemitsu Kosan Co., Ltd, has closed the financing for its 210 MW »Mustang Two« solar project in Kings County, California. Lenders for the approximately $176 million construction-to-term facility are KeyBank N.A. and Mizuho Bank, Ltd. Morgan Stanley Renewables Inc. has committed to make up to $120 million in tax equity financing. Located on a 1,400 acre site, the project is currently under construction and is slated to begin commercial operation in 2020. Once complete, the project will be owned and operated by Solar Frontier Americas. The renewable power generated by »Mustang Two« will be sold through power purchase agreements with Peninsula Clean Energy, which serves San Mateo County, and Modesto Irrigation District.
The solar farm represents SFA's largest project and financing to date. Recent projects include the acquisition of a 100 MW solar farm in Colorado and a 50.5 MW project in Stanislaus County, California. One year ago, in December 2019, SFA has acquired the»Mustang Two« solar project from Recurrent Energy LLC, subsidiary of Canadian Solar Inc.

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