Support to three new projects for renewable energy in the United States
Intesa Sanpaolo, through its IMI Corporate & Investment Banking Division, is strengthening its support for the development of renewable energy in the United States by participating in the financing of three new strategic infrastructure projects in California and Texas.
More specifically, within the scope of these transactions, the IMI CIB Division acted as Coordinating Lead Arranger.
Intesa Sanpaolo, together with a pool of other financial institutions, financed:
- The Darden Project, developed by IPX Power in California’s Central Valley, with a total value of approximately USD 5Bn.
Built on retired agricultural land, the project will include up to 1.15 GWac / 1.6 GWp of solar generation capacity and a 4.6 GWh energy storage system, with commercial operation expected in 2028.
- The Pepper Solar and Lucky 7 Solar Projects, developed by Sabanci Renewables in McLennan and Hopkins Counties, Texas, with a total value of USD 382M.
The two plants will provide a combined capacity of 286 MWp, with commercial operations expected by the end of 2027. The projects will help strengthen the ERCOT electricity market by increasing the availability of renewable energy and supporting the state's growing electricity demand.
These transactions confirm Intesa Sanpaolo’s ability to structure complex financing solutions for large-scale energy infrastructure projects worldwide, leveraging the IMI CIB Division’s extensive project finance expertise and well-established track record in leading energy and infrastructure transactions.
These new transactions add on other recent renewable energy infrastructure projects financed by Intesa Sanpaolo in the United States, including the Roccasecca battery energy storage project in Nevada and the Big Muddy solar project in Illinois.
By supporting the development of sustainable infrastructure across key international markets, Intesa Sanpaolo continues to strengthen its position as a trusted financial partner for the global energy transition.
