Brightnight, Cordelio Power Close on Financing for Arizona Box Canyon Project
BrightNight and Cordelio Power have secured a $414 million construction credit facility for their 300 MW Box Canyon
Solar Industry 5:37 pm on May 15, 2024
BrightNigh, Cordelio Power secured $414 million credit facility for the Arizona Box Canyon solar project in Pinal County. The joint venture between co-owners is a significant milestone in funding their extensive 37 GW renewable portfolio. Construction began in December with operations expected by next year, supported by various financial institutions as lead arrangers.**
- Financing Milestone: BrightNigh and Cordelio Power obtained a $414 million facility for Arizona Box Canyon's solar project.
- Project Details: The 300 MW Box Canyon, co-owned by the joint venture of BrightNight and Cordelio Power, began construction in December with plans to start operations next year. Zions Bank serves as agent and coordinator.
- Joint Lead Arrangers: National Bank of Canada, Royal Bank of Canada, Sumitomo Mitsui Trust Bank, and Canadian Imperial Bank of Commerce are joint lead arrangers.
- Economic Impact: The project promises job creation, economic development, energy security for the region. It is a key component in their 37 GW renewable power portfolio.
- Environmental Partnership: This financing aligns with environmental efforts and community benefits as BrightNigh emphasizes its commitment to clean power, job creation, and regional growth.
https://solarindustrymag.com/brightnight-cordelio-power-close-on-financing-for-arizona-box-canyon-project