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LENDER · TORONTO, CANADA
Lead bank on Cape Station Phase I's $421M project financing.
Projects
1
1 operating
Buys from
0
projects
Funds
1
projects with its money
Money in
$309M
project-specific, disclosed
Builds
0
as developer
Coming up
PROJECT · CAPE STATION PHASE IGeoBlocks 2 and 3 commercial operation (contractual target)
Beaver County, UT
ir.fervoenergy.com →+ THESISPOLICY45Y / 48E: all other clean power and storage
Full credit for projects beginning construction through 2033; 75% for 2034 starts, 50% for 2035, none from 2036. Affects Cape Station Phase I.
+ THESISPROJECT · CAPE STATION PHASE IGeoBlock 1 (33 MW) declared commercial operation
Beaver County, UT
ir.fervoenergy.com →+ THESISFUNDING · CAPE STATION PHASE IProject debt: RBC (lead); Barclays, BBVA, HSBC, MUFG, Société Générale, J.P. Morgan, Bank of America, Sumitomo Mitsui Trust$309M
Closed · Construction-to-term loan (non-recourse)
thinkgeoenergy.com →+ THESISFUNDING · CAPE STATION PHASE ITax credit: Same bank group$61M
Closed · Tax credit bridge loan
thinkgeoenergy.com →+ THESISFUNDING · CAPE STATION PHASE IProject debt: Same bank group$51M
Closed · Letter of credit facility
thinkgeoenergy.com →+ THESISPublic $0Private $309M
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