NADB supporting construction of 200 MW solar park in Webb County

LAREDO, Texas - A huge solar energy project is underway in Webb County, thanks to financing from the North American Development Bank and others.NADB, along with a syndicate of three other lenders, and global renewable energy developer BayWa r.e. signed a credit agreement for up to $216.1 million to finance the design, construction, and operation of the 200 MWAC Corazon Solar Project.It is being constructed on nearly 2,000 acres of private land in Webb County.Calixto Mateos-Hanel, NADB managing director, said his bank is participating with a $62.9 million loan. The bank served as coordinating lead arranger on the transaction.“We are proud to collaborate on the construction of the Corazon Solar Project located in Webb County, Texas,” Mateos-Hanel said. “This solar project will help contribute to what is projected to be the fastest-growing form of power generation in Texas over the next three years, while also fighting climate change.”According to Mateos-Hanel, NADB has developed and financed 37 clean energy projects, including 20 solar projects.During a virtual ceremony, Mateos-Hanel and Jam Attari, CEO of BayWa r.e. Solar Projects, LLC signed the loan agreement for NADB’s participation in the Corazon Solar Project. “We’re pleased to have secured financing from like-minded partners committed to the growth of a more resilient and clean energy future,” Attari said.“Texas continues to be a strong partner for renewable energy growth, and this milestone represents a win for our climate and the economy, creating more opportunities for the local community and the generations to come. At BayWa r.e., we continue to move forward in our promise to drive the energy transition today for a better tomorrow.”Attari said the project will generate an estimated 537.30 gigawatt-hours (GWh) of electricity during the first year of operation, equivalent to the annual consumption of 38,074 households, and reduce approximately 258,338 metric tons/year of carbon dioxide (CO2), 195 metric tons/year of nitrogen oxides (NOx) and 219 metric tons/year of sulfur dioxide (SO2).Editor's Note: The full story is on the Rio Grande Guardian website.Go to www.riograndeguardian.com to read the latest border news stories and watch the latest news videos.