$334 Million in Construction Financing Secured for Two Major Michigan Solar Projects

Rhea-AI Summary

NorthStar Clean Energy has secured up to $334 million in construction-to-term financing for two major solar projects in Michigan. The projects include the 200 MW Branch Solar facility in Branch County and the 50 MW Genesee Solar project in Genesee County.

These facilities will collectively generate enough clean electricity to power approximately 36,000 homes annually. The financing was arranged through collaboration with lead arrangers BNP Paribas, MUFG, and SMBC, with legal advisory services provided by multiple law firms.

The Branch Solar project will become NorthStar's largest solar asset in Michigan, while the Genesee Solar project will be developed in a historically disenfranchised community, supporting local economic development and job creation.

Positive

• Secured $334 million in construction-to-term financing
• Development of 250 MW total solar capacity across two projects
• Will power 36,000 homes annually with clean energy

Negative

• None.

ANN ARBOR, Mich., March 17, 2025 /PRNewswire/ -- NorthStar Clean Energy recently secured up to $334 million in construction-to-term financing for two transformative solar projects in Michigan. The Branch Solar project, a 200 MW facility in Branch County, will be NorthStar's largest solar asset in Michigan. The Genesee Solar project will be a 50 MW clean energy facility located in a historically disenfranchised community in Genesee County.

"Our Michigan roots run deep," said Brian Hartmann, President of NorthStar Clean Energy. "And we're proud to invest in projects that not only generate clean power but also create jobs and strengthen local economies."

The Branch and Genesee Solar projects will generate enough clean electricity to power nearly 36,000 homes annually. Together, these Michigan-based projects represent a significant step in NorthStar's mission to scale clean energy production nationally while making an impact at the state and local level.

"With these projects, we continue to solidify our leadership in renewable energy while making a meaningful impact in the communities where we live, work, and play," Hartmann added. "We remain focused on delivering clean and affordable energy to our customers while contributing to a more sustainable energy future for all."

NorthStar's strategic growth and robust financial positioning continue to drive large-scale renewable energy projects like this nationwide.

In securing construction financing, NorthStar coordinated with its lead arrangers, BNP Paribas, MUFG and SMBC. Hunton Andrews Kurth LLP, Arnold & Porter Kaye Scholer LLP, Bodman Plc and Warner Norcross + Judd LLP served as NorthStar's legal advisors.

About NorthStar Clean Energy:

NorthStar Clean Energy, a wholly owned subsidiary of CMS Energy (NYSE: CMS), founded in 1987 helps companies with ambitious sustainability targets decarbonize through renewable energy and carbon solutions. NorthStar Clean Energy owns and operates over 2 gigawatts of generating capacity nationwide —including solar installations in Michigan, Ohio, and Arkansas, wind assets in Texas and Ohio, natural gas and co-generation facilities in Michigan, and biomass plants in Michigan and North Carolina— and has a development pipeline of more than 1 gigawatt of renewable energy. NorthStar Clean Energy also plans to convert its only coal-fired power plant, the TES Filer City Station, to a 60 MW biomass-fueled plant capable of capturing and storing approximately 500,000 Metric Tons of Carbon Dioxide annually, one of the first biomass carbon removal and storage ("BiCRS") projects under development in the United States.

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SOURCE NorthStar Clean Energy

FAQ

How much financing did NorthStar secure for the Michigan solar projects?

NorthStar secured up to $334 million in construction-to-term financing for two solar projects in Michigan.

What is the combined power generation capacity of NorthStar's new Michigan solar projects?

The combined capacity is 250 MW, with Branch Solar at 200 MW and Genesee Solar at 50 MW.

How many homes will NorthStar's new Michigan solar projects power?

The two solar projects will generate enough clean electricity to power nearly 36,000 homes annually.

Which banks arranged the financing for NorthStar's Michigan solar projects?

BNP Paribas, MUFG, and SMBC served as lead arrangers for the financing.