Project finance: supporting three new renewable energy projects in the US
13 July 2026
Intesa Sanpaolo is strengthening its support for the development of renewable energy in the United States by participating in the financing of three new strategic infrastructure projects in California and Texas.
As part of these transactions, Intesa Sanpaolo’s IMI Corporate & Investment Banking Division acted as Coordinating Lead Arranger, further confirming its expertise and long-standing experience in project finance.
The three projects will help expand renewable power generation and energy storage capacity in two of the country's most important energy markets.
Three transactions to expand renewable energy capacity in the United States
Together with a pool of financial institutions, Intesa Sanpaolo is financing the following projects:
- Darden Project, developed by IPX Power in California's Central Valley, with a total project value of approximately $5 billion.
Built on former agricultural land, the project includes up to 1.15 GWac / 1.6 GWp of solar generation capacity, a 4.6 GWh battery energy storage system, and is expected to become operational in 2028.
- Pepper Solar and Lucky 7 Solar, developed by Sabanci Renewables in McLennan and Hopkins counties, Texas, with a combined project value of $382 million.
The two solar plants will provide a combined capacity of 286 MWp and are expected to enter commercial operation by the end of 2027. The projects will strengthen the ERCOT electricity market by increasing the availability of renewable energy and supporting Texas' growing electricity demand.
Intesa Sanpaolo's role in project finance for the energy transition
The Darden, Pepper Solar and Lucky 7 Solar transactions further demonstrate Intesa Sanpaolo's ability to structure complex financing solutions for large-scale energy infrastructure projects worldwide.
“Leveraging extensive experience in project finance and a well-established track record in major energy and infrastructure transactions, the IMI CIB Division continues to support clients and sponsors in delivering strategic investments in the United States and internationally, contributing to the development of new renewable capacity and the evolution of the energy system”
Nicola Doninelli, Head of Distribution Platforms & GTB of Intesa Sanpaolo’s IMI CIB Division
These new transactions build on other recent renewable infrastructure projects financed by Intesa Sanpaolo in the United States, including the Roccasecca battery energy storage project in Nevada and the Big Muddy solar project in Illinois.
By supporting the development of sustainable infrastructure across key international markets, Intesa Sanpaolo continues to strengthen its position as a trusted financial partner for the global energy transition.
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Last updated 13 July 2026 at 09:44:17
