Pittsburgh-based Exus Renewables North America, a company focused on developing, repowering, and managing renewable energy assets, recently secured $312 million in financing for the TAG project, a 140-megawatt solar and 50-megawatt/200-megawatt-hour battery storage facility in New Mexico.
“The successful financing of the TAG project represents a pivotal moment in Exus’ growth trajectory and our commitment to advancing America’s clean energy future,” Jim Spencer, Exus Renewables North America president and CEO, said. “This financing structure showcases our ability to deliver innovative, utility-scale projects that combine cutting-edge technology with practical energy solutions.”
The project will integrate solar technology with Tesla Megapack battery storage systems on 1,000 acres. Energy generated from the project will be used by a Meta data center. The project is scheduled for completion during the second quarter.
Construction and term debt are included in the financing package that was led by Crédit Agricole Corporate, Investment Bank, and ING Americas.
Exus also provided a significant equity investment. The project is part of the company’s aim to develop impactful clean energy solutions that advance national decarbonization goals and support local communities.
Exus Renewables North America, which employs more than 80 people, also recently acquired New Mexico Renewable Development’s portfolio.