New York, (Newswire.com) – KOMIPO America, Inc., which is a U.S. subsidiary of Korea Midland Power Co., Ltd. (KOMIPO), one of the major power generation companies in Korea actively doing business globally, has struck a deal to finance a $166 million Concho Valley Solar photovoltaic power project in the United States via a construction loan and a long-term tax equity investment. The agreements were signed on February 25, 2022. Currently under construction, the project is contracted with a high-quality, long-term offtaker, EDF Energy North America (EDF Energy Services, LLC and EDF Trading North America, LLC) and is expected to reach commercial operation by September 2022. Concho Valley Solar is the second KOMIPO financing of a US renewables asset after the successful financing of Elara Solar in 2021, also located in Texas.
CCA Capital, LLC served as the financial advisor to KOMIPO, providing support across capital formation and structuring. RBC Community Investments (RBC) arranged tax equity and Norddeutsche Landesbank Girozentrale and Rabobank are providing the construction loans and a separate back-leveraged facility that will support the project during operations.
