Arava Power closes and begins commercial operation of SUNRAY solar project in Texas
Type: Development · Technology: Solar · Country: United States · Capacity: 270 MW · Value: $330M · Announced: 2024-09-11
Arava Power's SUNRAY 270 MW solar PV project in Uvalde County, Texas, developed with Paz Group and funded with Menora Mivtachim, Nomura, Bank Ha'poalim, BHI and Morgan Stanley, completed construction, financial close and began commercial operation on 2024-09-11; it cost US$330 million, includes 500,000+ panels, will produce ~515 GWh/yr and sells 50% under a 12-year PPA.
Counterparties
- Morgan Stanley (Investor)
- Arava Power Company (Developer)
- BHI (Bank Ha'poalim US arm) (Lender)
- Nomura Securities International, Inc (Lender)
- Bank Ha'poalim (Lender)
- Menora Mivtachim (Investor)
- Paz Group (Partner)
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