Exus Secures Over USD 300 Million in Financing for Solar and Wind Projects in US
Exus Renewables North America has secured USD 308.2 million in financing for its 185 MW Zia Solar Power portfolio in New Mexico and 169 MW Keystone wind portfolio in Pennsylvania in the US.
July 28, 2025. By Mrinmoy Dey
The transactions include the 185 MW Zia Solar Power solar portfolio in New Mexico and the 169 MW Keystone wind portfolio in Pennsylvania, the company said in a statement.
It further added that Exus secured USD 149.6 million in financing for Zia Solar Power's portfolio of nine operational solar farms strategically located across New Mexico, including Deming, Los Lunas, Albuquerque, Moriarty, and Rio Rancho.
“The 185 MW portfolio is supported by long-term power purchase agreements with Public Service Company of New Mexico, Central New Mexico Electric Cooperative, Columbus Electric Cooperative, and City of Rio Rancho, spanning 20-25 years from commercial operation. The financing, which closed in May, was led by ING Capital and PNC Capital Markets LLC,” it said.
Exus also completed USD 158.6 million in financing for the Keystone wind portfolio, consisting of the Twin Ridges (139 MW) and Patton (30 MW) wind projects in Pennsylvania.
Commenting on the development, Jim Spencer, President and CEO of Exus Renewables North America said, “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 centres to repowered wind turbines in Pennsylvania, we're building the infrastructure that will define America's energy future.”
KeyBanc Capital Markets served as Coordinating Lead Arranger with Crédit Agricole Corporate and Investment Bank and Societe Generale as Joint Lead Arrangers. The financing supports the recent repowering of Twin Ridges, which achieved its repowering commercial operation date in 2024, extending the project's operational life and enhancing its efficiency.
The portfolio benefits from diverse offtake arrangements, with Vitol serving as the primary counterparty across the assets for power purchase agreements and renewable energy certificates.
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