Image for illustrative purposes

ContourGlobal, owned by U.S. investment firm KKR, has secured a $350 million funding package to support its solar installations in Colorado, the company said Thursday.

The package combines a tax equity investment from Tyr Energy, part of Japan's ITOCHU Corporation, with debt financing arranged by a consortium of international lenders, including Crédit Agricole CIB, ING Capital LLC, Intesa Sanpaolo, Mizuho, and MUFG.

The funds will back the Black Hollow Sun project, a large-scale solar facility expected to reach a 324-megawatt peak output once its second phase is completed by the end of 2026.

As demand for electricity in the United States rises--driven by the expansion of data centers, artificial intelligence, and decarbonization efforts--investors and lenders are increasingly partnering with energy producers to finance renewable infrastructure.

ContourGlobal said total financing could exceed $421 million upon completion of the project's second phase, underscoring its commitment to expanding clean energy generation in the U.S. market.

Source: money.usnews.com