Swift Current Energy closed project financing with ING Capital LLC and has received a tax equity commitment from Morgan Stanley Renewables Inc. for its 266 MW DC Tres Bahias Solar project located in Southeast Texas.
The solar energy project is currently under construction and is expected to start at the end of 2023.
ING acted as the sole lead arranger, bookrunner and structuring agent of the green loan. Morgan Stanley has committed tax capital to the project. Swift Current is the developer of the project and will be the long-term owner and operator.
“Swift Current Energy now has more than 1 GW of solar and wind projects under construction in multiple electric markets and states,” said Eric Lammers, CEO and Co-Founder of Swift Current Energy. “We are grateful for the support of ING and Morgan Stanley on the Tres Bahias Solar project and look forward to growing our partnership with both companies as we pursue our wind, solar and storage projects across the United States.”
First Solar will supply the solar panels for the project. Swift Current selected IEA Constructors, a renewable energy design, procurement and construction provider, to lead construction of the project.
Vinson & Elkins and Husch Blackwell represented Swift Current in the transaction. Latham & Watkins and Jackson Walker represented ING and Mayer Brown and Jackson Walker represented Morgan Stanley.