SAN ANTONIO, TEXAS, APRIL 9, 2021.- The Development Bank of America
North (NADB), along with a syndicate of three other lenders, and the developer
global renewable energy BayWa re signed a credit agreement for up to
216.1 million dollars to finance the design, construction and operation of the
200 MWAC Solar Corazón Project, located on nearly 2,000 acres of land
private in Webb County, Texas.
NADB is participating with a $ 62.9 million loan and served as
coordinating lead arranger on the transaction.
During a virtual ceremony, Calixto Mateos-Hanel, General Director of
NADB, and Jam Attari, CEO of BayWa re Solar Projects, LLC signed the contract for
loan for NADB’s participation in the project.
US Senator John Cornyn and US Representative
Henry Cuellar made comments and witnessed the signing.
In addition, present at the ceremony was the County Judge of
Webb, Tano Tijerina, who discussed the County’s involvement in the project.
The Solar Corazón Project, which is under construction, will increase
installed capacity of renewable energy sources in Texas, thus reducing the
future demand for traditional fuel-based energy production
fossil fuels and helping to prevent the emission of greenhouse gases and other
The electricity and renewable energy credits generated will be sold at a
retail provider of energy solutions through a purchase agreement
long-term power supply (PPA) and in the wholesale electricity market.
«We are proud to collaborate in the construction of the Solar Project
Corazon located in Webb County, Texas, “said Calixto Mateos-Hanel.
«This solar project will help contribute to what is projected to be the
fastest growing form of power generation in Texas during the
next three years, while fighting climate change.
«This solar farm will be a blessing to South Texas and is an example
more of the good work Nadbank does to support Texas projects, ”said the
“I was proud to secure your capital increase at the USMCA and
I will continue to encourage new investment in Webb County. “
«NADB has been instrumental in financing projects of
infrastructure that preserves, protects and improves the environment at the border
between the United States and Mexico.
That’s why I worked hard to double the capital of NADB, as well as
streamline the process by which projects and funding are approved, ”said the
«This project will create jobs, bring economic development and improve the
quality of life in our community, while reducing the
pollution and fighting climate change in the process.
As a high-ranking member of the House Appropriations Committee
Representatives, I pledged to finance projects that move us toward a
sustainable future, a healthier community and a stronger economy.
I want to thank NADB for their dedication to addressing health needs
public and environment of border communities.
«We are pleased to have obtained funding from like-minded partners
committed to growing a cleaner and more resilient energy future ”,
dijo Jam Attari.
«Texas continues to be a strong partner for energy growth
renewables, and this milestone represents a victory for our climate and economy,
creating more opportunities for the local community and generations to come.
At BayWa re, we continue to advance our promise to drive the
energy transition today for a better tomorrow ”.
The project will generate some 537.30 gigawatt-hours (GWh) of electricity
during the first year of operation, equivalent to the annual consumption of 38,074
households, and will reduce approximately 258,338 metric tons / year of dioxide
of carbon (CO2), 195 metric tons / year of nitrogen oxides (NOx) and 219
metric tons / year of sulfur dioxide (SO2).
In addition to the environmental and health benefits, the project is expected to
benefit communities in and around Webb County through
the creation of approximately 400 jobs during construction and
four jobs on site during operation.
To date, Nadb has developed and financed 37 energy projects
clean, including 20 solar projects