WASHINGTON, DC –Bracewell LLP advised Sol Systems, an independent power producer, in a $675 million revolving construction warehouse financing to support the buildout of its upcoming portfolio of utility-scale solar and storage projects. This financing, arranged by KKR Capital Markets, will fund construction loans, tax equity bridge loans and letters of credit—supporting an initial 500 MWs of projects planned in Illinois, Ohio and Texas. The facility is one of the first solar construction warehouse credit facilities in the market. The first group of projects is expected to come online by the end of 2026.
This innovative financing, closed the same week that the One Big, Beautiful Bill was enacted, was provided by lenders Banco Bilbao Vizcaya Argentaria, S.A. New York Branch, ING Capital LLC, Intesa San Paolo SPA, New York Branch, National Australia Bank Limited, National Westminster Bank PLC and Natixis, New York Branch.
Sol Systems is an impact-driven independent power producer committed to building, owning and managing clean energy infrastructure that benefits local communities.
Bracewell lawyers involved in the transaction include:
Partners: Kate H. Day, Andrew C.J. Bueso, Peter W. Rogers and Elizabeth L. McGinley
Associates: Alan Stewart and Mollie Naegeli
