HOUSTON – (COMMERCIAL THREAD) – Centaurus Renewable Energy LLC, the developer of the Arroyo Solar & Storage project in McKinley County, New Mexico, today announced the closing of a $ 70 million construction bridging facility provided by Voya Investment Management, the asset management business of Voya Financial, Inc. (NYSE: VOYA).
The credit facility will be used to make payments for project equipment and for other development and construction expenses. The transaction was organized by the Direct Infrastructure team of Voya Investment Management led by Tom Emmons and Ed Levin.
The Arroyo Solar & Storage project is a 300 MW-AC solar power generation facility and 150 MW / 600 MWh battery energy storage system. Solar energy and battery storage services are contracted under a 20-year power purchase agreement and an energy storage agreement with Public Service Company of New Mexico. The project is expected to partially replace electricity at the 847mw San Juan Power Plant, New Mexico’s largest coal-fired power plant, which is expected to cease operations in 2022.
Houston-based Centaurus Renewable Energy LLC was founded in 2013 and has developed approximately 20 solar projects totaling over 1.3 GW-DC in seven states.
About Voya Investment Management
A leading and active asset management company, Voya Investment Management manages, as of March 31, 2021, more than $ 248 billion for affiliated and external institutions as well as individual investors. With over 40 years of history in asset management, Voya Investment Management has the experience and resources to provide its clients with investment solutions with a focus on equities, fixed income and multi-asset strategies and solutions. Voya Investment Management was named in 2015, 2016, 2017, 2018, 2019 and 2020 as âBest Places to Workâ by Pensions and Investments magazine. For more information, visit voyainvestments.com. Follow Voya Investment Management on Twitter @VoyaInvestments.