Renewable Energy StoriesRenewable Energy Stories
  • Home
  • Solar News
    • Utility Scale
    • Rooftop Solar
    • Manufacturing
  • Other Renewables
    • Wind Energy
    • Biofuels
    • Hydro Power
    • Others
  • Storage
    • Lithium-Ion
    • Large Storage (100 kW+)
    • Small Storage
    • Battery Technology
  • Research
  • Finance
  • Events
  • Advertise
Facebook Twitter Instagram
India Edition | South East Asia Edition
Facebook Twitter LinkedIn
Renewable Energy StoriesRenewable Energy Stories
  • Home
  • Solar News
    • Utility Scale
    • Rooftop Solar
    • Manufacturing
  • Other Renewables
    • Wind Energy
    • Biofuels
    • Hydro Power
    • Others
  • Storage
    • Lithium-Ion
    • Large Storage (100 kW+)
    • Small Storage
    • Battery Technology
  • Research
  • Finance
  • Events
  • Advertise
Renewable Energy StoriesRenewable Energy Stories
Home » Ashtrom in $270 Mn Green Financing Deal for 400 MW Solar
Solar News

Ashtrom in $270 Mn Green Financing Deal for 400 MW Solar

By Saur News Bureau Fri, Oct 6th, 2023
$270 Mn Green Financing for 400 MW Solar Project
Israel's Ashtrom in $270 Mn Green Financing for 400 MW Solar Project
Share
Facebook Twitter LinkedIn Pinterest Email

Israel’s Ashtrom Renewable Energy, a renewable energy developer and subsidiary of Ashtrom Group, has signed  a green financing totaling $270M with a group of five banks viz. BHI, the US operation of Bank Hapoalim Group, Bayerische Landesbank, ING Capital, Rabobank and Societe Generale.

In addition, Ashtrom Renewable Energy signed a Tax Credit Transfer Agreement (TCTA) to sell the production tax credit (PTC) to be produced by the project over a ten-year period to a highly rated (Aa3 Moody’s) U.S. institutional entity. The total value of the PTC is estimated at $300 million.

As per reports, the Tierra Bonita project is located on a ~2,400 acres site in Pecos County, Texas, with a planned capacity of ~400MWdc (306 MWac). It is currently under construction and commercial operation is expected by Q4 2024. It is one of the very first solar projects in the U.S. to complete a Tax Credit Transfer Agreement for solar PTCs under the new Inflation Reduction Act (IRA), and complete financing under a project finance structure.. The  financing for the project was structured as a Green Loan in alignment with Green Loan Principles and with ING as the Green Loan Structuring Agent.

“The financial closing of the Tierra Bonita project marks a significant milestone for Ashtrom Renewable Energy, demonstrating confidence in our strong capabilities to execute the

development, planning, financing and construction of our first large-scale solar project in the U.S., with a total investment of approximately $435 million,” said Yitsik Mermelstein, CEO at Ashtrom Renewable Energy.

“In addition, we have also entered into a pioneering agreement to sell the project tax credits to a leading U.S.-based institutional entity for an estimated value of $300 million. This follows our PPA agreement from last year to sell ~60% of the project’s electricity to the CPS Energy (Aa2 Moody’s) the municipal utility of San Antonio for a 20-year term.” he said.

Ashtrom Green Financing
Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
Saur News Bureau
  • Website

Related Posts

Egypt Turns Up the Solar Switch

July 8, 2025

UAE’s GSU Plans Solar Plant in Madagascar

July 1, 2025

Egypt Looks to Expand Solar and Smart Grid Plans with China

June 30, 2025

Leave A Reply Cancel Reply

seven + eleven =

Latest News
  • New Wind Talks Blow Through Morocco
  • South Africa Plans New Skills for Green Jobs
  • Egypt Turns Up the Solar Switch
  • Saudi ACWA Power Signs New Energy Deals in Indonesia
  • New Wind and Solar Deals Move Ahead in Egypt
Solar News

Egypt Turns Up the Solar Switch

July 8, 2025

UAE’s GSU Plans Solar Plant in Madagascar

July 1, 2025

Egypt Looks to Expand Solar and Smart Grid Plans with China

June 30, 2025

New Cooling Tech Raises Solar Cells Power And Longevity: Study

June 27, 2025
ADVERTISE WITH US

We are the no.1 B2B solar media in India. With SaurEnergy, you have a full menu of options to pick from to reach the largest audience for your products and services.

To get in touch, contact us at info[at]saurenergy.com

Or Call at 9891147599 / 8802315631

Facebook Twitter Instagram YouTube LinkedIn WhatsApp
Latest News
  • New Wind Talks Blow Through Morocco
  • South Africa Plans New Skills for Green Jobs
  • Egypt Turns Up the Solar Switch
  • Saudi ACWA Power Signs New Energy Deals in Indonesia
  • New Wind and Solar Deals Move Ahead in Egypt
SAURENERGY NEWSLETTER

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

    [mc4wp_checkbox]

    © 2025 Saurenergy International.

    Type above and press Enter to search. Press Esc to cancel.

    Newsletter Subscription

      [mc4wp_checkbox]