Bank of China contributes $55 million USD to $275 million USD tax equity bridge loan tranche of $996.44 million USD syndicated loan to Parliament Solar for 480 MW Parliament Solar Photovoltaic Plant Project (Linked to Record ID#105952 and #105954)

Project narrative

On November 20, 2023, financial close was reached on a deal in which a syndicate of six lenders — including Bank of China (BOC) — entered into a $1.9273 billion USD syndicated loan facility agreement with Parliament Solar LLC and Parliament Solar Class B LLC — special purpose vehicles (SPV) and portfolio companies of EnCap Investments L.P. (50%) and Mercuria Energy (50%) — for the 480 MW Parliament Solar Photovoltaic (PV) Power Plant Project. The loan facility included a $148 million USD credit facility tranche with a maturity period of 1.5 years; $275 million USD tax equity bridge loan tranche with a maturity period of 1.5 years; a $277 million USD green loan tranche with a maturity period of 6.75 years; and a $63.44 million USD letter of credit tranche with a maturity period of 6.75 years. Record ID#105952 captures BOC's $29.6 million USD contribution to the $148 million USD credit facility tranche. Crédit Agricole Group, MUFG Bank, Ltd., Natixis, and Norddeutsche Landesbank Girozentrale (NordLB) also each provided $29.6 million USD to the tranche. Record ID#105953 captures BOC's $55 million USD contribution to the $275 million USD tax equity bridge loan tranche. Crédit Agricole Group, MUFG Bank, Natixis, and NordLB also each provided $55 million USD to the tranche. Record ID#105954 captures BOC's s $31.78 million USD contribution to the $277 million USD green loan tranche. Crédit Agricole Group ($31.78 million USD), MUFG Bank ($31.78 million USD), Natixis ($31.78 million USD), NordLB ($31.78 million USD), and Sumitomo Mitsui Banking Corporation ($118.1 million USD) also contributed. Additionally, BOC, Crédit Agricole Group, MUFG Bank, Natixis, and NordLB each contributed $12.68 million USD to a $63.44 million USD letter of credit tranche. AidData does not consider Letters of Credit to be flows. The 480 MW Parliament Solar PV Power Plant Project was located on 3,372 acres of land owned by a private citizen and Rice University in Waller County, Texas, near Houston and was expected to generate 1,100 GWh of clean energy per annum, equal to the annual consumption of around 140,000 homes in Texas. The plant was expected to begin delivering nearly 1,100 GWh of solar energy annually power to approximately 140,000 homes in late 2024 or early 2025, likely becoming the largest solar park in North America. Ideematec, a renewable energy innovation company, provided its Horizon L:TEC 1P solar tracker technology. Ingeteam was responsible for the installation of the photovoltaic inverters and provided 149 INGECON® SUN 3Power Series C liquid-cooled central photovoltaic inverters, integrated into 80 UL-certified transformer stations. Construction on the site began in or around August 2023. The project was commissioned on September 2, 2025.