Vesper Energy secures $236 million financing package for 201 MW Nazareth Solar project in Texas

Type: Financing · Technology: Solar · Country: United States · Capacity: 201 MW · Value: $236M · Announced: 2026-06-02

Vesper Energy closed a $236 million financing package to fund the 201 MW Nazareth Solar project in Swisher County, Texas, marking a material step in the company's expansion in the region. The project, developed across 2,400 acres of private land, will sell power into the ERCOT grid and is expected to power approximately 53,000 homes annually upon completion in autumn 2027. Construction is scheduled to begin in June 2026, with commercial operations targeted for the same period. The financing structure includes a construction-to-term loan and a letter of credit facility, reflecting a collaborative effort among multiple financial institutions. MUFG Bank Ltd. served as the sole coordinating lead arranger, bookrunner, and administrative agent, while Associated Bank and BayernLB acted as joint lead arrangers. Funds managed by GCM Grosvenor provided the majority of the project's equity capital, with the Development Bank of Japan also participating in the investment.

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