EDF Renewables reaches financial close on 394 MWdc Utah Solar 1 project in Utah

Type: Financing · Technology: Solar · Country: United States · Capacity: 394 MWdc · Announced: 2026-09-18

EDF power solutions North America reached financial close on its 394 MWdc / 300 MWac Utah Solar 1 project in Millard County, Utah, with electricity deliveries scheduled to begin mid-2027. The project secured a 30-year power purchase agreement with the Southern California Public Power Authority and will generate approximately 766,000 MWh annually for customers of the Los Angeles Department of Water and Power. A consortium of lenders including Crédit Agricole CIB, MUFG, National Bank of Canada, Société Générale, and Standard Chartered provided the credit facilities, with Crédit Agricole CIB acting as initial coordinating lead arranger and administrative agent. The financing package includes a tax credit bridge facility, with Crédit Agricole CIB acting as the sole buyer of the project's production tax credits. Clifford Chance advised EDF, Winston & Strawn represented the lenders, and Norton Rose Fulbright US advised Crédit Agricole CIB on the production tax credit purchase.

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