US utility Coronal Energy, independent power producer (IPP) and provider of turnkey renewable energy solutions, has closed $235 million in total financing for its »Gulf Coast Solar Center« portfolio. Finance partners include Marathon Capital, which served as Coronal’s exclusive financial advisor for placement of the tax equity funding for the portfolio, US Bankcorp Community Development Corporation (USBCDC), and Sumitomo Mitsui Banking Corporation (SMBC).
The 120 MW »Gulf Coast Solar Center« includes three sites in Northwest Florida built for Gulf Power in cooperation with the US Navy and US Air Force: a 30 MW project at Eglin AFB Reservation, a 40 MW project at NAS Whiting Field’s NOLF Holley, and a 50 MW project at NAS Pensacola’s NOLF Saufley. Construction of the portfolio created nearly 450 jobs, with 98 percent of that workforce hired locally. The solar portfolio is now fully operational, following an August 2017 opening ceremony with Gulf Power, the US Air Force, the US Navy, and other project partners (as reported).
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