HOUSTON–(BUSINESS WIRING) – Centaurus Renewable Energy LLC, developer of the Arroyo Solar & Storage Project in McKinley County, New Mexico, today announced the closure of the $ 70 million bridge credit line from Voya Investment Management, Voya Financial’s asset management business. … , Inc. (NYSE: VOYA).
The credit line will be used to pay for project equipment and other development and construction costs. The deal was arranged by Voya Investment Management’s Direct Infrastructure Department led by Tom Emmons and Ed Levin.
The Arroyo Solar & Storage project is a 300 MW AC solar power plant and a 150/600 MW battery storage system. Solar and battery storage services are provided under a 20-year power purchase and energy storage agreement with the Public Service of New Mexico. The project is expected to partially replace electricity from the San Juan 847 MW generating station, the largest coal-fired power plant in New Mexico, which is scheduled to be shut down in 2022.
Houston-based Centaurus Renewable Energy LLC was founded in 2013 and has developed about 20 solar projects with a total capacity of over 1.3 GWdc in seven states.
About Voya Investment Management
A leading asset management company, Voya Investment Management, as of March 31, 2021, manages more than $ 248 billion for affiliates and external organizations, as well as for individual investors. With over 40 years of history in asset management, Voya Investment Management has the experience and resources to provide clients with investment solutions with a focus on strategies and solutions for equities, fixed income and multiple assets. Voya Investment Management has been named Best Places to Work in 2015, 2016, 2017, 2018, 2019 and 2020 by Pensions and Investments magazine. For more information visit voyainvestments.com. Follow Voya Investment Management on Twitter @VoyaInvestments…