Exus Renewables North America (Exus), an independent developer and operator of utility-scale renewable energy projects, has completed financing deals worth a total of $308.2 million for two major renewable energy portfolios in the United States. The funding will support solar and wind projects in New Mexico and Pennsylvania. For the Zia Solar Power portfolio in New Mexico, Exus secured $149.6 million in financing.
This portfolio includes nine operational solar farms located in cities such as Deming, Los Lunas, Albuquerque, Moriarty, and Rio Rancho, with a combined capacity of 185 megawatts. These projects are backed by long-term power purchase agreements ranging from 20 to 25 years with local utilities and municipalities, including the Public Service Company of New Mexico, Central New Mexico Electric Cooperative, Columbus Electric Cooperative, and the City of Rio Rancho. The financing, finalized in May, was led by ING Capital and PNC Capital Markets LLC.
Jim Spencer, President and CEO of Exus Renewables North America, stated, “Securing this financing across two distinct portfolios demonstrates the strength of our platform and the market’s confidence in our execution capabilities. From desert solar farms powering data centers to repowered wind turbines in Pennsylvania, we’re building the infrastructure that will define America’s energy future.”
In Pennsylvania, Exus also closed $158.6 million in financing for the Keystone wind portfolio, which consists of two projects—Twin Ridges (139 MW) and Patton (30 MW). The financing was arranged by KeyBanc Capital Markets as Coordinating Lead Arranger, with Crédit Agricole Corporate and Investment Bank and Societe Generale serving as Joint Lead Arrangers.
The Keystone portfolio includes the recently repowered Twin Ridges wind project, which became commercially operational again in 2024, extending its lifespan and boosting efficiency. Power from the wind projects is sold through various agreements, with Vitol acting as the main offtake partner for both electricity and renewable energy certificates.
