Wedoany.com Report-Apr. 12, Mitsubishi UFJ Financial Group (MUFG) and Nomura Securities International have finalized a $388 million financing package for Greenalia’s Misae Solar Park II (Misae II) in Texas, USA. The deal includes a $295 million construction-to-term loan and a $93 million letter of credit facility. Misae II, Greenalia’s first U.S. project, advances renewable energy growth. Spanning 3,970 acres in Childress County, it will rank among Texas’s largest solar developments.
Misae II is Greenalia’s first US development, marking a significant step in renewable energy expansion.
The solar park will feature a 430-megawatt direct current and 331.6-megawatt alternating current photovoltaic system, with commercial operations expected by the third quarter of 2025. MUFG managing director and project finance lead Louise Pesce said: “We’re thrilled to support Greenalia by leading this complex and successful transaction. Greenalia’s innovation and MUFG’s expertise will help the state of Texas increase energy capacity with renewable solar power.” MUFG and Nomura served as coordinating lead arrangers and bookrunners, with MUFG also acting as administrative agent.
Misae II has secured two power purchase agreements with ERCOT (Electric Reliability Council of Texas) West for 65% of its energy output and renewable energy certificates (RECs). The remaining 35% will be sold on the merchant ERCOT market. Additionally, the project benefits from a fixed-price production tax credit transfer agreement and a separate fixed-price deal for 40% of its RECs. Greenalia CEO Manuel Garcia stated: “This transaction is a major step for Greenalia’s US expansion. With the help of MUFG and Nomura, we are on track to reach 1GW of operational projects by 2026.”
In a separate development, Adapture Renewables obtained $321 million in financing from MUFG for its 441-megawatt Titanium solar portfolio in the U.S. This package, structured as a construction loan and tax credit bridge loan, supports three sites in Arkansas and Illinois, set to power 71,000 homes annually. Construction of the first site, Cooks Mill, began in September 2024, with operations expected by early 2026.
The Misae II project underscores Greenalia’s commitment to expanding clean energy in the U.S., leveraging financial support from MUFG and Nomura. Located in Texas, the solar park will enhance regional energy capacity while contributing to sustainability goals. Meanwhile, Adapture’s Titanium portfolio reflects a broader trend of renewable energy investments across multiple states, supported by tailored financing solutions.
