US Renewable Energy Company Exus Secures $308m Funding for Solar and Wind Projects

Exus Renewables North America has secured $308.2m in funding for its utility-scale renewable energy projects in the US. The financing will support the development of solar and wind power projects, including the 185MW Zia solar power portfolio in New Mexico and the 169MW Keystone wind portfolio in Pennsylvania. The funding was led by ING Capital and PNC Capital Markets for the Zia solar portfolio, and KeyBanc Capital Markets was the coordinating lead arranger for the Keystone wind portfolio.

Title: Exus Renewables North America Secures $308.2 Million for US Solar and Wind Projects

Exus Renewables North America has successfully secured $308.2 million in financing for its utility-scale renewable energy projects across the United States. The funding will support the development of solar and wind power projects, including the 185MW Zia solar power portfolio in New Mexico and the 169MW Keystone wind portfolio in Pennsylvania.

The Zia solar portfolio, which received $149.6 million in financing, consists of nine operational solar farms located in various parts of New Mexico, including Deming, Los Lunas, Albuquerque, Moriarty, and Rio Rancho. This portfolio is backed by long-term power purchase agreements (PPAs) with key entities such as the Public Service Company of New Mexico, Central New Mexico Electric Cooperative, Columbus Electric Cooperative, and the city of Rio Rancho. The financing for the Zia solar portfolio was led by ING Capital and PNC Capital Markets and was finalized in May 2025 [1].

In Pennsylvania, Exus Renewables secured $158.6 million for its Keystone wind portfolio, which includes the Twin Ridges (139MW) and Patton (30MW) wind projects. The financing supports the recent repowering of the Twin Ridges project, which achieved its repowering commercial operation date in 2024. KeyBanc Capital Markets served as the coordinating lead arranger, with Crédit Agricole Corporate and Investment Bank and Societe Generale as joint lead arrangers. The portfolio benefits from diverse offtake arrangements, with Vitol serving as the primary counterparty for PPAs and renewable energy certificates [2].

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."

Exus Renewables North America is a leading independent developer and operator of utility-scale renewable energy projects, dedicated to advancing clean energy solutions across the United States. With over 5 gigawatts in its total portfolio and 764 MW now operating or under construction, the company continues to expand its operational footprint while contributing to the nation's decarbonization efforts and clean energy goals [3].

References
[1] https://finance.yahoo.com/news/exus-renewables-gains-308m-us-105328726.html
[2] https://www.prnewswire.com/news-releases/exus-renewables-north-america-secures-over-300-million-in-financing-for-zia-solar-portfolio-and-keystone-wind-projects-302510276.html
[3] https://solarquarter.com/2025/07/19/xcel-energy-announces-fresh-portfolio-of-power-projects-to-support-growing-electricity-needs-in-texas-new-mexico/