Recurrent Energy has announced the closing of project financing and tax equity for its Blue Moon Solar project. U.S. Bank, through its subsidiary U.S. Bancorp Impact Finance, is providing a combined $260 million in construction financing and tax equity for the 94 MW facility.
Under a long-term power purchase agreement, Constellation will acquire the electricity and renewable energy certificates generated by the project. Located in Harrison County, Kentucky, Blue Moon Solar is currently under construction and is expected to begin commercial operations in 2026. Recurrent Energy will retain ownership and continue to operate the facility once it becomes operational. Jason Marshall, Harrison County Judge/Executive, stated, “Harrison County is open to investment, and we are pleased to work with Recurrent Energy on their newest energy facility. Blue Moon Solar will provide a major source of new tax revenue to our county.”
“We believe everyone has a role to play in creating a sustainable future, and financing a project like Blue Moon is one way we can be responsible stewards of the environment,” said Darren Van’t Hof, Managing Director of Environment Finance for U.S. Bancorp Impact Finance. “Our team’s ability to offer both equity financing and project finance debt speaks to U.S. Bank’s ability to provide custom financing solutions for our clients. Blue Moon Solar is one of several projects we’ve financed for Recurrent Energy, and we’re proud to support its work to expand sources of clean energy, strengthen the energy grid, and drive local job creation.”
Ismael Guerrero, CEO of Recurrent Energy, added, “We are pleased to invest in Harrison County, Kentucky. Blue Moon Solar will generate affordable, locally produced energy that will support Kentucky’s economic growth. We are excited to complete the financing for Blue Moon Solar and grow our investments in Kentucky, thanks to U.S. Bank and Constellation for supporting our energy projects.”
