Exus Renewables North America Secures Over $300 Million in Financing for Zia Solar Portfolio and Keystone Wind Projects

Exus Renewables North America (Exus), a leading independent developer and operator of utility-scale renewable energy projects, announced the successful completion of financing for several US-based utility-scale renewable energy projects totaling $308.2 million. The transactions include the 185 MW Zia Solar Power solar portfolio in New Mexicoand the 169 MW Keystone wind portfolio in Pennsylvania.

Zia Solar Portfolio - New Mexico

Exus secured $149.6 million in financing for Zia Solar Power's portfolio of nine operational solar farms strategically located across New Mexico, including Deming, Los Lunas, Albuquerque, Moriarty, and Rio Rancho. The 185 MW portfolio is supported by long-term power purchase agreements with Public Service Company of New Mexico, Central New Mexico Electric Cooperative, Columbus Electric Cooperative, and City of Rio Rancho, spanning 20-25 years from commercial operation. The financing, which closed in May, was led by ING Capital and PNC Capital Markets LLC.

Keystone Wind Portfolio - Pennsylvania

Exus also completed $158.6 million in financing for the Keystone wind portfolio, consisting of the Twin Ridges (139 MW) and Patton (30 MW) wind projects in Pennsylvania.

KeyBanc Capital Markets served as Coordinating Lead Arranger with Crédit Agricole Corporate and Investment Bank and Societe Generale as Joint Lead Arrangers. The financing supports the recent repowering of Twin Ridges, which achieved its repowering commercial operation date in 2024, extending the project's operational life and enhancing its efficiency.

The portfolio benefits from diverse offtake arrangements, with Vitol serving as the primary counterparty across the assets for power purchase agreements and renewable energy certificates.

"Securing this financing across two distinct portfolios demonstrates the strength of our platform and the market's confidence in our execution capabilities," said Jim Spencer, President and CEO of Exus Renewables North America. "From desert solar farms powering data centers to repowered wind turbines in Pennsylvania, we're building the infrastructure that will define America's energy future."

Exus Renewables North America | https://www.exusrenewables.com/north-america