From Fortune Magazine:

Pattern Energy Group has secured $11 billion in financing and begun construction on the SunZia wind farm in New Mexico, along with a 550-mile transmission line to Arizona. The project, billed as the largest clean energy project in US history, will have a capacity of 3.5 gigawatts. It took more than 17 years to gain approvals and begin building, highlighting the difficulty of building transmission lines in the US. Regulatory agencies, local landowners, and conservationists can all slow or even stop development. The country needs a huge build-out of transmission to move energy produced by wind and solar farms. The financing includes about $8.8 billion in construction and term facilities and $2.25 billion in tax equity.

The Canada Pension Plan Investment Board bought Pattern Energy Group in 2020, and they are spearheading the SunZia project. This development is a significant step in the direction of more renewable energy sources.



Read more: The biggest clean energy project in U.S. history just raised $11 billion and started construction