SB Energy Global secures $1.65 billion debt for solar projects

By Marisa Wong

Los Angeles, Nov. 30 – SB Energy Global, LLC raised $450 million of term debt and $1.2 billion of construction debt to support a 1.3 gigawatt portfolio of four utility-scale solar projects, according to a press release.

MUFG, Mizuho Americas, ING, SMBC, CIBC, Fifth Third Bank and Societe Generale were the lenders.

The combined $2.4 billion of financing for the renewable energy projects also includes roughly $800 million of tax equity from JPMorgan, Bank of America, Morgan Stanley Renewables Inc. and Truist Bank.

Redwood City, Calif.-based SB Energy is a utility-scale solar, energy storage and technology business backed by SoftBank Group Corp. and funds managed by the Infrastructure and Power strategy of Ares Management Corp.

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