In a major milestone for renewable energy financing, ContourGlobal has secured a $350 million financing package to propel the next phase of its Black Hollow Sun solar project in Colorado, USA. This landmark transaction not only reinforces the company’s growing renewable footprint but also marks its first-ever Tax Equity investment and debut renewable project financing in the U.S. With support from leading global financial institutions, this development underscores the growing investor confidence in large-scale solar infrastructure across North America.
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The $350 million financing package is a carefully structured blend of Tax Equity investment and debt financing—an increasingly popular mechanism in the U.S. renewable sector. The debt portion was arranged through a consortium of international lenders including Credit Agricole CIB, ING Capital LLC, Intesa Sanpaolo, Mizuho, and MUFG, while Tyr Energy provided the Tax Equity investment. This funding will support the construction of Phase II of the 324 MW Black Hollow Sun project, located in Colorado. The financing marks a major step for ContourGlobal, enhancing its financial flexibility and signaling its commitment to expanding its renewable portfolio in key U.S. markets.
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Spanning a total capacity of 324 MW, the Black Hollow Sun project represents a cornerstone in Colorado’s clean energy development. Phase I of the project, already in commercial operation, delivers 185 MW of clean electricity to Platte River Power Authority, strengthening the state’s sustainable energy mix. Phase II, with an additional 139 MW under construction, is set to reach completion by the end of 2026. Together, both phases will generate substantial renewable power, supporting regional energy resilience while contributing to state and national decarbonization goals. This expansion reaffirms ContourGlobal’s strategic intent to drive innovation and scale in solar energy production.
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The financing success of the Black Hollow Sun project highlights the importance of strategic partnerships in accelerating renewable energy projects. CRC-IB acted as the financial advisor to ContourGlobal and Tyr Energy, while legal counsel was provided by Norton Rose Fulbright US, Davis Graham & Stubbs, Milbank, and Husch Blackwell. The involvement of such prominent advisory and legal firms underscores the complexity and scale of the transaction. Furthermore, ContourGlobal’s plan to raise additional capital upon Phase II completion could elevate the project’s total financing to over $421 million, reflecting its strong growth trajectory and financial prudence.
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ContourGlobal’s successful $350 million financing for the Black Hollow Sun project is a defining step toward advancing large-scale renewable infrastructure in the United States. With robust support from global financiers and advisors, this project stands as a beacon of sustainable investment and innovation. As Phase II progresses, ContourGlobal is poised to play a leading role in shaping a cleaner, more reliable energy future for Colorado and beyond.

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