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174 Power Global Gets Funding For Solar Power Efforts

Irvine-based 174 Power Global, a utility-scale, solar energy company which is owned by Hanwha Group, said this morning that it has closed on construction financing for a $210M, 150MW solar power plant near Odessa, Texas. The company said construction and term debt is being provided by Credit Agricole Corporate and Investment Bank and the Korea Development Bank, and an eight-year "solar hedge" is being provided by J.P. Morgan Chase Bank, N.A. Terms of the debt were not announced. 174 Power Global said the Oberon solar plant will span more than 1,200 acres and include more than 560,000 solar panels, enough to power 25,000 to 30,000 Texas homes.