Shikun & Binui Energy has completed the construction of the 260-MWDC Brazoria West Solar Project, acquired from Savion in 2021.
“The completion of Brazoria West is a significant milestone for the group and paves the path to our goal of becoming an integrated IPP in the U.S.,” said Didi Paz, CEO of Shikun & Binui Energy.
The construction at Brazoria West Solar Project, located about 40 miles southwest of Houston, Texas, commenced in Q2 2021 with the Commercial Operation Date (COD) achieved in November 2022. The project’s total output capacity allows to power approximately 37,100 homes.
“Brazoria West is the largest solar project ever built by our group. It demonstrates our ambition to be a key player in the transition to a carbon free future,” said Kevin Yaich, president of S&B US Energy. “I would like to thank all our partners, lenders, contractors and transaction teams for their excellent work, trust and cooperation. I am extremely proud of the Shikun & Binui Energy’s efforts and resilience to complete the project in a 2021/22 challenging environment for the U.S. solar industry.”
Brazoria West Solar Project will supply power to the Houston area and has secured one commercial and industrial PPA and another PPA with an energy trading company. A portion of the environmental attributes of the facility are being sold to these two off-takers as part of the PPAs.
CIT Group’s Power and Energy business led the debt financing. Macquarie and RBC have arranged the tax equity financing for the project.