SunZia wind farm and transmission line, hailed as the biggest clean energy project in the history of the United States, have successfully secured $11 billion in financing to support its development and have started construction.
It took over 17 years for SunZia to obtain the approvals and commence construction, which underscores the challenges associated with building transmission lines in the United States. Experts, in the field emphasize the need, for an expansion of transmission infrastructure to facilitate the transport of energy generated by wind and solar farms. However regulatory agencies, local landowners and conservationists can all potentially. Halt development projects.
Pattern Energy Group announced on Wednesday that it has successfully secured financing, for the SunZia wind farm project in New Mexico. The funding includes $8.8 billion for construction and term facilities well as $2.25 billion in tax equity. Additionally there is a 550 mile transmission line that will transport the generated electricity to Arizona. It’s worth mentioning that Pattern Energy Group was acquired by the Canada Pension Plan Investment Board in 2020.
Pattern Energy Group’s Milestone Financing for SunZia’s Wind Farm
Hunter Armistead, the CEO of Pattern Energy expressed optimism that the funding secured for this big clean energy infrastructure project in the United States will set a precedent for ambitious initiatives in renewable infrastructure. These efforts are crucial for expediting our shift, towards a future from carbon emissions.
“We want to express our appreciation to all of our partners who have chosen to support SunZia in this ground-breaking clean energy project financing. The construction progress is going smoothly on this endeavor that aims to provide energy aligning perfectly with the abundant solar power resources, in the Western United States. We would like to extend our gratitude to our shareholders for their support of Patterns endeavors to deliver this critical project and meaningfully advance the world’s energy transition.”
