Double Black Diamond Solar Closes on Financing

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(WLDS) Swift Current Energy, owner of the Double Black Diamond Solar project in Sangamon and Morgan Counties, announced on Wednesday that it had secured $779 million for the 800 megawatt solar project. Double Black Diamond Solar is expected to be the second largest single phase solar project in the US, and the largest solar project in the MISO energy grid.

The solar farm is expected to power the equivalent of more than 100,000 homes and reduce regional carbon dioxide emissions by approximately one million tons per year, according to a press release.

Mitsubishi UFJ Financial Group, Societe Generale, and Truist served as the coordinating lead arrangers, for the landmark project financing, which includes $695 million in construction and tax equity bridge loans and an $84 million letter of credit facility, making it one of the largest project financings ever for a US solar project.

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