BrightNight and Cordelio Power secure $414 million financing for Box Canyon solar project


BrightNight and its joint venture partner Cordelio Power have finalised a $414 million construction credit facility for their utility-scale solar power project, Box Canyon, located in Pinal County, Arizona. The project is owned by BOCA bn, LLC, a joint venture between BrightNight and Cordelio, and is set to generate 300 MW of power with operations expected to commence in 2025.

Reportedly, construction of the project began in December 2023. Zions Bancorporation acted as the Administrative Agent and Coordinating Lead Arranger, while the Joint Lead Arrangers included National Bank of Canada, Royal Bank of Canada, Sumitomo Mitsui Trust Bank, and Canadian Imperial Bank of Commerce. BrightNight is spearheading the development of the Box Canyon project as part of its collaboration with Cordelio Power.

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