ALBUQUERQUE, N.M. — Pattern Energy Group LP has secured a groundbreaking $11 billion financing deal for the largest clean energy project in U.S. history. The San Francisco-based company has commenced full construction on the SunZia Transmission and SunZia Wind, which together form an ambitious clean energy infrastructure initiative.
The SunZia Transmission is a 550-mile high-voltage direct current transmission line, spanning from central New Mexico to south-central Arizona. With a capacity to transport 3,000 MW of electricity across Western states, this project is poised to make a significant impact on clean energy distribution.
Pattern Energy’s SunZia Wind facility, with a capacity of 3,515 MW, is being constructed across multiple counties in New Mexico, namely Torrance, Lincoln, and San Miguel. Once completed, it will be the largest wind project in the western hemisphere.
Canadian financing played a crucial role in the $11 billion deal. BNP Paribas, Credit Agricole Corporate and Investment Bank, CoBank, ACB, Desjardins Group, Export Development Canada, ING Capital LLC, Intesa Sanpaolo S.p.A., New York Branch, KFW IPEX-Bank, MUFG Bank, Ltd., National Bank of Canada, Natixis Corporate & Investment Banking, Societe Generale, Sumitomo Mitsui Banking Corporation, and Wells Fargo Securities, LLC acted as initial co-ordinating lead arrangers and joint bookrunners. Banco Bilbao Vizcaya Argentaria, the Bank of Nova Scotia, and Sumitomo Mitsui Trust Bank, Limited, New York Branch also served as co-ordinating lead arrangers.
Our hope is this successful financing of the largest clean energy infrastructure project in American history serves as an example for other ambitious renewable infrastructure initiatives that are needed to accelerate our transition to a carbon-free future, said Hunter Armistead, CEO of Pattern Energy.
Nomura Securities International and CPPIB Credit Investments III, a subsidiary of Canada Pension Plan Investment Board, were involved in the final phase of the financing.
With construction well underway, Pattern Energy’s historic project aims to deliver clean power that complements the abundant solar generation available across the western United States.
The completion of this massive project signifies a significant milestone in the advancements of clean energy infrastructure. By maximizing the potential of wind power and optimizing transmission capabilities, Pattern Energy is charting a new course towards a sustainable and carbon-free future.
As the world moves towards renewable energy sources, projects such as SunZia Transmission and SunZia Wind serve as beacons of hope, inspiring similar initiatives worldwide. With its immense scale and innovative approach, this project is set to redefine the clean energy landscape in the United States and beyond.
