Husch Blackwell’s renewable energy team assisted Swift Current in bringing a 260 MW solar project located in Southeast Texas online.
The Tres Bahias Solar project, which is equipped with solar panels from American-based First Solar, is generating energy to power City of Houston facilities through a power purchase agreement with an affiliate of NRG Energy, Inc. Tres Bahias is the largest operating solar project in Calhoun County, Texas and the third largest in the Texas Gulf Coast region. Swift Current will remain the long-term owner and operator of the project.
Husch Blackwell served as developer’s counsel to Swift Current through the purchase, development, debt financing and funding, in the areas of real estate, environmental and permitting and electric regulatory, among others.
The project was financed by ING Capital, LLC, and was structured to reflect the new U.S. Inflation Reduction Act policy guidance. Morgan Stanley Renewables Inc. and UnitedHealth Group provided the tax equity investment. Siemens Financial Services and Associated Bank served as additional lenders in the construction financing.
The Husch Blackwell team was led by partner Anna Kimbrell and included Nikki Tate, Megan Caldwell, Sylvia Bartell, Brian Chan, Doug Jones, Alaina Zermeno, Dakota Parish, Allan Williams, Jon Micah Goeller, David Raymond, and Jameson Sauseda.
For further information, please refer to the March 26, 2024, Swift Current press release.