"We are equally excited to help Shikun & Binui establish a foothold in the U.S. "Savion and the Green Investment Group are renowned for their expertise in the power generation space and we are pleased to collaborate with them to support their financing needs on this project," said Mike Lorusso, managing director and group head for CIT's Power and Energy business. "Reaching financial close with our financing partners on this valuable asset is a key milestone of our continuing growth in the U.S.," said Jeremie Debomy, Executive Vice-President of M&A for S&B US Energy Inc. "We appreciated CIT's expertise in developing the financing for this project as we continue to expand our renewable power portfolio in the U.S.," said Kevin Yaich, President of S&B US Energy Inc.
"The Savion team is pleased to have played a key role in making this project possible." "Brazoria West Solar Project is an exciting opportunity to help support the growing demand for solar power in the Houston area while also contributing to the region's economic development," said Nick Lincon, Savion president. S&B US Energy will take over the development from closing through commercial operations. Immediately upon closing, the project was sold to and the debt assumed by S&B US Energy Inc., subsidiary of Shikun & Binui Ltd., a global Israeli infrastructure and real estate company. The project was developed by Savion, an affiliate of Macquarie's Green Investment Group, a leading developer and owner of renewable projects with a pipeline exceeding 20 gigawatts globally. Construction is underway, with commercial operation planned for 2022. Located in the Greater Houston power market Brazoria West Solar Project is a utility-scale solar project with 260 megawatts of direct current generation capacity. 29, 2021 /PRNewswire/ - CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business served as coordinating lead arranger on nearly $210 million in financing for a solar project in Brazoria County, Texas.