Oct 02, 2023

​Marathon Capital Advises Ashtrom Renewable Energy on $270 Million Financing and Tax Credit Transfer Agreement for 400 MW Tierra Bonita Solar Project

Marathon Capital, LLC (“Marathon Capital”) announces it has advised Ashtrom Renewable Energy, a global independent power producer and subsidiary of Ashtrom Group Ltd., on a $270 Million financing for a 400MW solar project in Texas, Tierra Bonita. The financing was provided by BHI, the U.S operation of Bank Hapolaim Group, Bayerische Landesbank, ING Capital, Rabobank and Société Générale.

The Tierra Bonita project is also one of the very first solar projects in the U.S. to complete a Tax Credit Transfer Agreement for solar PTCs under the new Inflation Reduction Act (IRA), and complete financing under a project finance structure.

Marathon Capital acted as exclusive financial advisor to Ashtrom Renewable Energy on the transaction, and Morgan, Lewis & Bockius LLP served as legal advisor.


Contact Information

Jorge Rodriguez
Managing Director, Head of Debt Capital Markets
+1 212-784-6991

Matt Shanahan
Managing Director
+1 312-989-1352