en.Wedoany.com Reported - Independent power producer Vesper Energy announced that the 201 MW Nazareth Solar Project in Swisher County, Texas, has completed $236 million in financing. The project will directly serve the Electric Reliability Council of Texas (ERCOT) grid, providing reliable power.

Spanning over 2,400 acres, the project's annual power generation can meet the electricity needs of approximately 53,000 households. Its construction and operation will generate tax revenue, create jobs, and provide a stable income source for landowners in the region.

The financing was arranged with Mitsubishi UFJ Financial Group (MUFG) serving as the sole coordinating lead arranger, bookrunner, and administrative agent, while Associated Bank and Bayern LB acted as joint lead arrangers. The majority of the project's equity capital was provided by funds managed by GCM Grosvenor, with the Development Bank of Japan (DBJ) also participating in the investment.

Vesper Energy Co-CEO Juan Suarez stated that the completion of financing for the Nazareth Solar Project marks another significant milestone for the company in the region. MUFG Managing Director Matt Curtin noted that the transaction reflects confidence in Vesper's ability to deliver high-quality energy infrastructure. GCM Grosvenor Managing Director Matthew Rinklin pointed out that the project underscores the growing demand in the U.S. for scalable, reliable power infrastructure. DBJ General Manager Shunsuke Motai emphasized that this investment aligns with its mission to advance critical infrastructure and promote long-term sustainable development.

According to the plan, construction of the Nazareth Solar Project is scheduled to begin in June 2026, with the goal of achieving commercial operation by fall 2027.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com