$11B Financing Enables Massive NM Power Project

If that sounds big, it is. Pattern Energy Group LP (Pattern Energy) has closed an $11 billion non-recourse financing and begun full construction of SunZia Transmission and SunZia Wind, which together is the largest clean energy infrastructure project in U.S. history. Pattern boasts the project is bigger than Hoover Dam. The project broke ground in September.

SunZia Transmission is a 550-mile ± 525 kV high-voltage direct current (HVDC) transmission line between central New Mexico and south-central Arizona with the capacity to transport 3,000 MW of electricity across Western states. SunZia Transmission will deliver power generated by Pattern Energy’s 3,515 MW SunZia Wind facility, the largest wind project in the Western Hemisphere, which is being constructed across Torrance, Lincoln, and San Miguel Counties in New Mexico.

The $8.8 billion construction and term facilities were secured by over a half dozen banks. $2.25 billion in tax equity was also provided by a large consortium, led by Banco Santander. SunZia Wind and Transmission will employ more than 2,000 workers on-site during construction.