Shikun & Binui Energy has completed construction on the 260 MWdc Brazoria West solar project, acquired from Savion in 2021.
“The completion of Brazoria West is a significant milestone for the group and paves the path to our goal of becoming an integrated IPP in the U.S.,” said Didi Paz, CEO of Shikun & Binui Energy.
Project construction began in the second quarter 2021 and was located in Brazoria County, 40 miles southwest of Houston, Texas. Commercial operation date (COD) was achieved in November.
“Brazoria West is the largest solar project ever built by our group,” said Kevin Yaich, president of S&B USA Energy, the U.S. division of Shikun & Binui Energy. “It demonstrates our ambition to be a key player in the transition to a carbon free future.”
S&B USA Energy executive vice president Jeremie Debomy added that the successful completion of the Brazoria West project “is a testament to Shikun & Binui Energy’s ability to effectively manage complex transactions.”
This is the fourth renewable asset investment Shikun & Binui Energy has made in the United States, following the investments in Beacon II and Beacon V PV projects in 2020 and in the Saticoy Battery Storage project in 2021, both located in California.
Brazoria West will supply power to the Houston area and has secured one commercial and industrial PPA and another PPA with an energy trading company. A portion of the environmental attributes of the facility are being sold to these two offtakers as part of the agreements.
CIT Group’s Power and Energy business led the debt financing. Macquarie and RBC have arranged the tax equity financing for the project.
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