# Hornet Solar (TX)

ERCOT Solar Photovoltaic · https://askthegrid.com/assets/facilities/hornet-solar-tx

Hornet Solar (TX) is a solar power facility with 600 MW of EIA-reported operating capacity in Swisher County, Texas, registered as EIA Plant ID 65463. Vesper Energy Development LLC owns and operates the plant. Project filings list 1,360,000 solar panels for the facility. Commercial operation began in April 2025. The facility interconnects at Ozark Trail Switchyard at 345 kV.

## Key facts

- Technology: Solar Photovoltaic
- Power capacity: 600 MW
- Operating status: operating

## Grid and market context

- ISO/RTO: ERCOT
- Balancing authority: ERCOT
- Substation: Ozark Trail Switchyard
- Point of interconnection: Ozark Trail Switchyard
- Transmission owner: Oncor Electric Delivery Company LLC
- Interconnection voltage: 345 kV

## Source-backed facts

- Owner logo domain: vesperenergy.com — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: medium
- Identifiers: [{"value":"65463","system":"EIA plant ID"},{"value":"HRNET","system":"EIA generator ID"},{"value":"52651","system":"FERC MBR EIA ID"},{"value":"ERCOT","system":"ISO/RTO"},{"value":"Oncor Electric Delivery Company LLC","system":"Transmission interconnection provider"},{"value":"56919","system":"PUCT PGC-registration docket"},{"value":"Control No. 35077, Item 1355","system":"PUCT interconnection filing"},{"value":"Control No. 35077, Item 1930","system":"PUCT fourth-amendment filing"}] — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: medium
- Identifiers: [{"value":"65463","system":"EIA plant ID"},{"value":"HRNET","system":"EIA generator ID"},{"value":"52651","system":"FERC MBR EIA ID"},{"value":"ERCOT","system":"ISO/RTO"},{"value":"Oncor Electric Delivery Company LLC","system":"Transmission interconnection provider"},{"value":"56919","system":"PUCT PGC-registration docket"},{"value":"Control No. 35077, Item 1355","system":"PUCT interconnection filing"},{"value":"Control No. 35077, Item 1930","system":"PUCT fourth-amendment filing"}] — Interchange - Documents · confidence: medium
- Official project url: https://www.hornetsolartx.com/ — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: high
- Description: Hornet Solar (TX) is a 600 MWac solar photovoltaic project in Swisher County, Texas, with a 745 MWdc nameplate capacity. Construction began in fall 2023, and the project became fully operational in April 2025. It interconnects with Oncor Electric’s transmission system in ERCOT and was constructed by Blattner Energy. — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: high
- Identifiers.3: {"value":"ERCOT","system":"ISO/RTO"} — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: high
- Identifiers.4: {"value":"Oncor Electric Delivery Company LLC","system":"Transmission interconnection provider"} — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: medium
- Identifiers.6: {"value":"Control No. 35077, Item 1355","system":"PUCT interconnection filing"} — Interchange - Documents · confidence: high
- Parties.1: {"relationship":"Developer, owner, and operator","name":"Vesper Energy","official_url":"https://vesperenergy.com/"} — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: medium
- Parties.3: {"relationship":"Transmission interconnection provider","name":"Oncor Electric Delivery Company LLC","official_url":"https://www.oncor.com/"} — Interchange - Documents · confidence: high
- Parties.4: {"relationship":"EPC contractor / constructor","name":"Blattner Energy","official_url":null} — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: high
- Parties.5: {"relationship":"Coordinating lead arranger","name":"MUFG Bank Ltd.","official_url":null} — Vesper Energy Closes $590 Million in Financing for Its Hornet Solar Project - Elda River · confidence: high
- Parties.6: {"relationship":"Coordinating lead arranger","name":"Nord/LB","official_url":null} — Vesper Energy Closes $590 Million in Financing for Its Hornet Solar Project - Elda River · confidence: medium
- Parties.7: {"relationship":"Coordinating lead arranger","name":"Santander Corporate & Investment Banking","official_url":null} — Vesper Energy Closes $590 Million in Financing for Its Hornet Solar Project - Elda River · confidence: medium
- Parties.8: {"relationship":"Joint lead arranger","name":"BayernLB","official_url":null} — Vesper Energy Closes $590 Million in Financing for Its Hornet Solar Project - Elda River · confidence: high
- Parties.9: {"relationship":"Lender","name":"Associated Bank","official_url":null} — Vesper Energy Closes $590 Million in Financing for Its Hornet Solar Project - Elda River · confidence: high
- Parties.10: {"relationship":"PTC-transfer purchase-commitment arranger","name":"Advantage Capital","official_url":"https://www.advantagecap.com/"} — Vesper Energy Closes $590 Million in Financing for Its Hornet Solar Project - Elda River · confidence: high
- Parties.11: {"relationship":"Vesper financing adviser for PTC-transfer commitment","name":"CCA Capital","official_url":null} — Vesper Energy Closes $590 Million in Financing for Its Hornet Solar Project - Elda River · confidence: medium
- Significance: Hornet Solar is described as one of the largest single-phase solar projects in the United States and as one of the first utility-scale solar projects to use the Inflation Reduction Act's production-tax-credit transfer provisions. — Advantage Capital Secures $500 Million Production Tax Credits Transfer Deal for Vesper Energy's Hornet Solar Project | Advantage Capital · confidence: medium
- Significance: Hornet Solar is described as one of the largest single-phase solar projects in the United States and as one of the first utility-scale solar projects to use the Inflation Reduction Act's production-tax-credit transfer provisions. — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: medium
- Description: Hornet Solar (TX) is a 600 MWac/745 MWdc photovoltaic facility in Swisher County, Texas, using bifacial modules on a single-axis tracking system. It interconnects with Oncor Electric's transmission system in ERCOT, and its output is contracted to four offtakers through individual power-purchase agreements. Hornet Solar LLC is a wholly owned indirect subsidiary of Vesper Energy Development LLC, which develops, owns, and operates the project; Blattner Energy constructed it. Construction began in fall 2023, and the project became fully operational in April 2025. — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: medium
- Description: Hornet Solar (TX) is a 600 MWac/745 MWdc photovoltaic facility in Swisher County, Texas, using bifacial modules on a single-axis tracking system. It interconnects with Oncor Electric's transmission system in ERCOT, and its output is contracted to four offtakers through individual power-purchase agreements. Hornet Solar LLC is a wholly owned indirect subsidiary of Vesper Energy Development LLC, which develops, owns, and operates the project; Blattner Energy constructed it. Construction began in fall 2023, and the project became fully operational in April 2025. — Source · confidence: medium
- Quality notes: ["The identified November 2020 transaction was Lendlease's sale of its renewable-energy business to Magnetar Capital, after which the business was rebranded Vesper Energy; the transaction was not described as a sale of the Hornet Solar project itself, and no separate Hornet project sale consideration was identified.","A 2022 Texas Comptroller record described an earlier approximately 310 MWac, 2,000-acre project configuration, while later project sources describe the completed facility as 600 MWac/745 MWdc; the record supports development history but does not document a formal expansion transaction.","No retirement or repowering event is identified for Hornet Solar. The project is reported as fully operational from April 2025.","The four offtake partners are referenced in the financing announcement but are not named there."] — Source · confidence: medium
- Quality notes: ["The identified November 2020 transaction was Lendlease's sale of its renewable-energy business to Magnetar Capital, after which the business was rebranded Vesper Energy; the transaction was not described as a sale of the Hornet Solar project itself, and no separate Hornet project sale consideration was identified.","A 2022 Texas Comptroller record described an earlier approximately 310 MWac, 2,000-acre project configuration, while later project sources describe the completed facility as 600 MWac/745 MWdc; the record supports development history but does not document a formal expansion transaction.","No retirement or repowering event is identified for Hornet Solar. The project is reported as fully operational from April 2025.","The four offtake partners are referenced in the financing announcement but are not named there."] — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: medium
- Financing summary: On January 31, 2024, Vesper Energy closed a $590 million debt-financing package for Hornet Solar consisting of a construction-to-term loan and letter-of-credit facility. MUFG Bank Ltd., Nord/LB, and Santander Corporate & Investment Banking were coordinating lead arrangers; BayernLB was joint lead arranger; and Associated Bank was a lender. The financing leveraged a separate 10-year production-tax-credit transfer commitment arranged by Advantage Capital, through which more than $500 million of PTCs would be monetized; CCA Capital advised Vesper Energy on sourcing and structuring that commitment. These amounts are project financing and tax-credit monetization, not disclosed sale consideration. — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: high
- Financing summary: On January 31, 2024, Vesper Energy closed a $590 million debt-financing package for Hornet Solar consisting of a construction-to-term loan and letter-of-credit facility. MUFG Bank Ltd., Nord/LB, and Santander Corporate & Investment Banking were coordinating lead arrangers; BayernLB was joint lead arranger; and Associated Bank was a lender. The financing leveraged a separate 10-year production-tax-credit transfer commitment arranged by Advantage Capital, through which more than $500 million of PTCs would be monetized; CCA Capital advised Vesper Energy on sourcing and structuring that commitment. These amounts are project financing and tax-credit monetization, not disclosed sale consideration. — Advantage Capital Secures $500 Million Production Tax Credits Transfer Deal for Vesper Energy's Hornet Solar Project | Advantage Capital · confidence: high
- Timeline: [{"event":"Predecessor business founded","date":"2015","detail":"The Vesper Energy business was founded as Lendlease Energy Development."},{"event":"Corporate acquisition and rebranding","date":"2020-11-16","detail":"Magnetar Capital acquired Lendlease's renewable-energy business, which was rebranded Vesper Energy. This was a corporate business transaction, not a separately identified sale of Hornet Solar."},{"event":"Early project development and tax agreement","date":"2022-05-19","detail":"A Texas Comptroller record for Hornet Solar LLC documented an earlier project concept of approximately 310 MWac on about 2,000 acres using single-axis-tracker photovoltaic technology."},{"event":"Construction start","date":"2023","detail":"Hornet Solar began construction in fall 2023."},{"event":"Project debt financing close","date":"2024-01-31","detail":"Vesper Energy announced the closing of the $590 million construction-to-term loan and letter-of-credit financing package."},{"event":"PTC transfer commitment close","date":"2024-02-01","detail":"Advantage Capital announced the closing of a 10-year PTC transfer commitment for the project, involving monetization of more than $500 million of PTCs."},{"event":"Commercial operation","date":"2025-04","detail":"Hornet Solar became fully operational in April 2025; Vesper Energy held a commercial-operation ribbon-cutting ceremony on April 10, 2025."}] — About - Vesper Energy · confidence: medium
- Timeline: [{"event":"Predecessor business founded","date":"2015","detail":"The Vesper Energy business was founded as Lendlease Energy Development."},{"event":"Corporate acquisition and rebranding","date":"2020-11-16","detail":"Magnetar Capital acquired Lendlease's renewable-energy business, which was rebranded Vesper Energy. This was a corporate business transaction, not a separately identified sale of Hornet Solar."},{"event":"Early project development and tax agreement","date":"2022-05-19","detail":"A Texas Comptroller record for Hornet Solar LLC documented an earlier project concept of approximately 310 MWac on about 2,000 acres using single-axis-tracker photovoltaic technology."},{"event":"Construction start","date":"2023","detail":"Hornet Solar began construction in fall 2023."},{"event":"Project debt financing close","date":"2024-01-31","detail":"Vesper Energy announced the closing of the $590 million construction-to-term loan and letter-of-credit financing package."},{"event":"PTC transfer commitment close","date":"2024-02-01","detail":"Advantage Capital announced the closing of a 10-year PTC transfer commitment for the project, involving monetization of more than $500 million of PTCs."},{"event":"Commercial operation","date":"2025-04","detail":"Hornet Solar became fully operational in April 2025; Vesper Energy held a commercial-operation ribbon-cutting ceremony on April 10, 2025."}] — Source · confidence: medium
- Timeline: [{"event":"Predecessor business founded","date":"2015","detail":"The Vesper Energy business was founded as Lendlease Energy Development."},{"event":"Corporate acquisition and rebranding","date":"2020-11-16","detail":"Magnetar Capital acquired Lendlease's renewable-energy business, which was rebranded Vesper Energy. This was a corporate business transaction, not a separately identified sale of Hornet Solar."},{"event":"Early project development and tax agreement","date":"2022-05-19","detail":"A Texas Comptroller record for Hornet Solar LLC documented an earlier project concept of approximately 310 MWac on about 2,000 acres using single-axis-tracker photovoltaic technology."},{"event":"Construction start","date":"2023","detail":"Hornet Solar began construction in fall 2023."},{"event":"Project debt financing close","date":"2024-01-31","detail":"Vesper Energy announced the closing of the $590 million construction-to-term loan and letter-of-credit financing package."},{"event":"PTC transfer commitment close","date":"2024-02-01","detail":"Advantage Capital announced the closing of a 10-year PTC transfer commitment for the project, involving monetization of more than $500 million of PTCs."},{"event":"Commercial operation","date":"2025-04","detail":"Hornet Solar became fully operational in April 2025; Vesper Energy held a commercial-operation ribbon-cutting ceremony on April 10, 2025."}] — Source · confidence: medium
- Timeline: [{"event":"Predecessor business founded","date":"2015","detail":"The Vesper Energy business was founded as Lendlease Energy Development."},{"event":"Corporate acquisition and rebranding","date":"2020-11-16","detail":"Magnetar Capital acquired Lendlease's renewable-energy business, which was rebranded Vesper Energy. This was a corporate business transaction, not a separately identified sale of Hornet Solar."},{"event":"Early project development and tax agreement","date":"2022-05-19","detail":"A Texas Comptroller record for Hornet Solar LLC documented an earlier project concept of approximately 310 MWac on about 2,000 acres using single-axis-tracker photovoltaic technology."},{"event":"Construction start","date":"2023","detail":"Hornet Solar began construction in fall 2023."},{"event":"Project debt financing close","date":"2024-01-31","detail":"Vesper Energy announced the closing of the $590 million construction-to-term loan and letter-of-credit financing package."},{"event":"PTC transfer commitment close","date":"2024-02-01","detail":"Advantage Capital announced the closing of a 10-year PTC transfer commitment for the project, involving monetization of more than $500 million of PTCs."},{"event":"Commercial operation","date":"2025-04","detail":"Hornet Solar became fully operational in April 2025; Vesper Energy held a commercial-operation ribbon-cutting ceremony on April 10, 2025."}] — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: medium
- Timeline: [{"event":"Predecessor business founded","date":"2015","detail":"The Vesper Energy business was founded as Lendlease Energy Development."},{"event":"Corporate acquisition and rebranding","date":"2020-11-16","detail":"Magnetar Capital acquired Lendlease's renewable-energy business, which was rebranded Vesper Energy. This was a corporate business transaction, not a separately identified sale of Hornet Solar."},{"event":"Early project development and tax agreement","date":"2022-05-19","detail":"A Texas Comptroller record for Hornet Solar LLC documented an earlier project concept of approximately 310 MWac on about 2,000 acres using single-axis-tracker photovoltaic technology."},{"event":"Construction start","date":"2023","detail":"Hornet Solar began construction in fall 2023."},{"event":"Project debt financing close","date":"2024-01-31","detail":"Vesper Energy announced the closing of the $590 million construction-to-term loan and letter-of-credit financing package."},{"event":"PTC transfer commitment close","date":"2024-02-01","detail":"Advantage Capital announced the closing of a 10-year PTC transfer commitment for the project, involving monetization of more than $500 million of PTCs."},{"event":"Commercial operation","date":"2025-04","detail":"Hornet Solar became fully operational in April 2025; Vesper Energy held a commercial-operation ribbon-cutting ceremony on April 10, 2025."}] — Advantage Capital Secures $500 Million Production Tax Credits Transfer Deal for Vesper Energy's Hornet Solar Project | Advantage Capital · confidence: medium
- Timeline: [{"event":"Predecessor business founded","date":"2015","detail":"The Vesper Energy business was founded as Lendlease Energy Development."},{"event":"Corporate acquisition and rebranding","date":"2020-11-16","detail":"Magnetar Capital acquired Lendlease's renewable-energy business, which was rebranded Vesper Energy. This was a corporate business transaction, not a separately identified sale of Hornet Solar."},{"event":"Early project development and tax agreement","date":"2022-05-19","detail":"A Texas Comptroller record for Hornet Solar LLC documented an earlier project concept of approximately 310 MWac on about 2,000 acres using single-axis-tracker photovoltaic technology."},{"event":"Construction start","date":"2023","detail":"Hornet Solar began construction in fall 2023."},{"event":"Project debt financing close","date":"2024-01-31","detail":"Vesper Energy announced the closing of the $590 million construction-to-term loan and letter-of-credit financing package."},{"event":"PTC transfer commitment close","date":"2024-02-01","detail":"Advantage Capital announced the closing of a 10-year PTC transfer commitment for the project, involving monetization of more than $500 million of PTCs."},{"event":"Commercial operation","date":"2025-04","detail":"Hornet Solar became fully operational in April 2025; Vesper Energy held a commercial-operation ribbon-cutting ceremony on April 10, 2025."}] — Vesper Energy Cuts Ribbon on Hornet Solar, One of the Largest Single-Phase Solar Projects in the U.S. - Vesper Energy · confidence: medium
- Commercial parties: [{"relationship":"Developer, owner, and operator","name":"Vesper Energy Development LLC","detail":"Parent company and project developer, owner, and operator; Hornet Solar LLC is its wholly owned indirect subsidiary.","official_url":"https://vesperenergy.com/"},{"relationship":"Registered project company and PGC registrant","name":"Hornet Solar LLC","detail":"Project company that owns the approximately 600 MWac solar photovoltaic facility and submitted the Texas generation-company registration.","official_url":"https://www.hornetsolartx.com/"},{"relationship":"EPC contractor and constructor","name":"Blattner Energy","detail":"Constructed the Hornet Solar project.","official_url":"https://www.blattnercompany.com/"},{"relationship":"Transmission interconnection provider","name":"Oncor Electric Delivery Company LLC","detail":"Hornet Solar interconnects with Oncor Electric's transmission system in ERCOT.","official_url":"https://www.oncor.com/"},{"relationship":"Coordinating lead arranger","name":"MUFG Bank Ltd.","detail":"Coordinating lead arranger for the January 2024 project debt financing.","official_url":"https://www.mufg.jp/"},{"relationship":"Coordinating lead arranger","name":"Nord/LB","detail":"Coordinating lead arranger for the January 2024 project debt financing.","official_url":"https://www.nordlb.com/"},{"relationship":"Coordinating lead arranger","name":"Santander Corporate & Investment Banking","detail":"Coordinating lead arranger for the January 2024 project debt financing.","official_url":"https://www.santandercib.com/"},{"relationship":"Joint lead arranger","name":"BayernLB","detail":"Joint lead arranger for the January 2024 project debt financing.","official_url":"https://www.bayernlb.com/"},{"relationship":"Lender","name":"Associated Bank","detail":"Lender in the January 2024 project debt-financing bank group.","official_url":"https://www.associatedbank.com/"},{"relationship":"PTC-transfer purchase-commitment arranger","name":"Advantage Capital","detail":"Arranged the 10-year purchase commitment used to monetize more than $500 million of Hornet Solar production tax credits.","official_url":"https://www.advantagecap.com/"},{"relationship":"Financing adviser","name":"CCA Capital","detail":"Advised Vesper Energy on sourcing and structuring the PTC-transfer commitment.","official_url":null},{"relationship":"Seller of predecessor renewable-energy business","name":"Lendlease","detail":"Sold its renewable-energy business to Magnetar Capital on November 16, 2020; the business subsequently operated as Vesper Energy. The source does not identify this as a Hornet Solar project sale.","official_url":"https://www.lendlease.com/"},{"relationship":"Acquirer of predecessor renewable-energy business","name":"Magnetar Capital","detail":"Acquired Lendlease's renewable-energy business on November 16, 2020, in a corporate transaction preceding the Hornet Solar construction period.","official_url":"https://www.magnetar.com/"}] — Source · confidence: medium
- Commercial parties: [{"relationship":"Developer, owner, and operator","name":"Vesper Energy Development LLC","detail":"Parent company and project developer, owner, and operator; Hornet Solar LLC is its wholly owned indirect subsidiary.","official_url":"https://vesperenergy.com/"},{"relationship":"Registered project company and PGC registrant","name":"Hornet Solar LLC","detail":"Project company that owns the approximately 600 MWac solar photovoltaic facility and submitted the Texas generation-company registration.","official_url":"https://www.hornetsolartx.com/"},{"relationship":"EPC contractor and constructor","name":"Blattner Energy","detail":"Constructed the Hornet Solar project.","official_url":"https://www.blattnercompany.com/"},{"relationship":"Transmission interconnection provider","name":"Oncor Electric Delivery Company LLC","detail":"Hornet Solar interconnects with Oncor Electric's transmission system in ERCOT.","official_url":"https://www.oncor.com/"},{"relationship":"Coordinating lead arranger","name":"MUFG Bank Ltd.","detail":"Coordinating lead arranger for the January 2024 project debt financing.","official_url":"https://www.mufg.jp/"},{"relationship":"Coordinating lead arranger","name":"Nord/LB","detail":"Coordinating lead arranger for the January 2024 project debt financing.","official_url":"https://www.nordlb.com/"},{"relationship":"Coordinating lead arranger","name":"Santander Corporate & Investment Banking","detail":"Coordinating lead arranger for the January 2024 project debt financing.","official_url":"https://www.santandercib.com/"},{"relationship":"Joint lead arranger","name":"BayernLB","detail":"Joint lead arranger for the January 2024 project debt financing.","official_url":"https://www.bayernlb.com/"},{"relationship":"Lender","name":"Associated Bank","detail":"Lender in the January 2024 project debt-financing bank group.","official_url":"https://www.associatedbank.com/"},{"relationship":"PTC-transfer purchase-commitment arranger","name":"Advantage Capital","detail":"Arranged the 10-year purchase commitment used to monetize more than $500 million of Hornet Solar production tax credits.","official_url":"https://www.advantagecap.com/"},{"relationship":"Financing adviser","name":"CCA Capital","detail":"Advised Vesper Energy on sourcing and structuring the PTC-transfer commitment.","official_url":null},{"relationship":"Seller of predecessor renewable-energy business","name":"Lendlease","detail":"Sold its renewable-energy business to Magnetar Capital on November 16, 2020; the business subsequently operated as Vesper Energy. The source does not identify this as a Hornet Solar project sale.","official_url":"https://www.lendlease.com/"},{"relationship":"Acquirer of predecessor renewable-energy business","name":"Magnetar Capital","detail":"Acquired Lendlease's renewable-energy business on November 16, 2020, in a corporate transaction preceding the Hornet Solar construction period.","official_url":"https://www.magnetar.com/"}] — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: medium
- Commercial parties: [{"relationship":"Developer, owner, and operator","name":"Vesper Energy Development LLC","detail":"Parent company and project developer, owner, and operator; Hornet Solar LLC is its wholly owned indirect subsidiary.","official_url":"https://vesperenergy.com/"},{"relationship":"Registered project company and PGC registrant","name":"Hornet Solar LLC","detail":"Project company that owns the approximately 600 MWac solar photovoltaic facility and submitted the Texas generation-company registration.","official_url":"https://www.hornetsolartx.com/"},{"relationship":"EPC contractor and constructor","name":"Blattner Energy","detail":"Constructed the Hornet Solar project.","official_url":"https://www.blattnercompany.com/"},{"relationship":"Transmission interconnection provider","name":"Oncor Electric Delivery Company LLC","detail":"Hornet Solar interconnects with Oncor Electric's transmission system in ERCOT.","official_url":"https://www.oncor.com/"},{"relationship":"Coordinating lead arranger","name":"MUFG Bank Ltd.","detail":"Coordinating lead arranger for the January 2024 project debt financing.","official_url":"https://www.mufg.jp/"},{"relationship":"Coordinating lead arranger","name":"Nord/LB","detail":"Coordinating lead arranger for the January 2024 project debt financing.","official_url":"https://www.nordlb.com/"},{"relationship":"Coordinating lead arranger","name":"Santander Corporate & Investment Banking","detail":"Coordinating lead arranger for the January 2024 project debt financing.","official_url":"https://www.santandercib.com/"},{"relationship":"Joint lead arranger","name":"BayernLB","detail":"Joint lead arranger for the January 2024 project debt financing.","official_url":"https://www.bayernlb.com/"},{"relationship":"Lender","name":"Associated Bank","detail":"Lender in the January 2024 project debt-financing bank group.","official_url":"https://www.associatedbank.com/"},{"relationship":"PTC-transfer purchase-commitment arranger","name":"Advantage Capital","detail":"Arranged the 10-year purchase commitment used to monetize more than $500 million of Hornet Solar production tax credits.","official_url":"https://www.advantagecap.com/"},{"relationship":"Financing adviser","name":"CCA Capital","detail":"Advised Vesper Energy on sourcing and structuring the PTC-transfer commitment.","official_url":null},{"relationship":"Seller of predecessor renewable-energy business","name":"Lendlease","detail":"Sold its renewable-energy business to Magnetar Capital on November 16, 2020; the business subsequently operated as Vesper Energy. The source does not identify this as a Hornet Solar project sale.","official_url":"https://www.lendlease.com/"},{"relationship":"Acquirer of predecessor renewable-energy business","name":"Magnetar Capital","detail":"Acquired Lendlease's renewable-energy business on November 16, 2020, in a corporate transaction preceding the Hornet Solar construction period.","official_url":"https://www.magnetar.com/"}] — Advantage Capital Secures $500 Million Production Tax Credits Transfer Deal for Vesper Energy's Hornet Solar Project | Advantage Capital · confidence: medium
- Commercial parties: [{"relationship":"Developer, owner, and operator","name":"Vesper Energy Development LLC","detail":"Parent company and project developer, owner, and operator; Hornet Solar LLC is its wholly owned indirect subsidiary.","official_url":"https://vesperenergy.com/"},{"relationship":"Registered project company and PGC registrant","name":"Hornet Solar LLC","detail":"Project company that owns the approximately 600 MWac solar photovoltaic facility and submitted the Texas generation-company registration.","official_url":"https://www.hornetsolartx.com/"},{"relationship":"EPC contractor and constructor","name":"Blattner Energy","detail":"Constructed the Hornet Solar project.","official_url":"https://www.blattnercompany.com/"},{"relationship":"Transmission interconnection provider","name":"Oncor Electric Delivery Company LLC","detail":"Hornet Solar interconnects with Oncor Electric's transmission system in ERCOT.","official_url":"https://www.oncor.com/"},{"relationship":"Coordinating lead arranger","name":"MUFG Bank Ltd.","detail":"Coordinating lead arranger for the January 2024 project debt financing.","official_url":"https://www.mufg.jp/"},{"relationship":"Coordinating lead arranger","name":"Nord/LB","detail":"Coordinating lead arranger for the January 2024 project debt financing.","official_url":"https://www.nordlb.com/"},{"relationship":"Coordinating lead arranger","name":"Santander Corporate & Investment Banking","detail":"Coordinating lead arranger for the January 2024 project debt financing.","official_url":"https://www.santandercib.com/"},{"relationship":"Joint lead arranger","name":"BayernLB","detail":"Joint lead arranger for the January 2024 project debt financing.","official_url":"https://www.bayernlb.com/"},{"relationship":"Lender","name":"Associated Bank","detail":"Lender in the January 2024 project debt-financing bank group.","official_url":"https://www.associatedbank.com/"},{"relationship":"PTC-transfer purchase-commitment arranger","name":"Advantage Capital","detail":"Arranged the 10-year purchase commitment used to monetize more than $500 million of Hornet Solar production tax credits.","official_url":"https://www.advantagecap.com/"},{"relationship":"Financing adviser","name":"CCA Capital","detail":"Advised Vesper Energy on sourcing and structuring the PTC-transfer commitment.","official_url":null},{"relationship":"Seller of predecessor renewable-energy business","name":"Lendlease","detail":"Sold its renewable-energy business to Magnetar Capital on November 16, 2020; the business subsequently operated as Vesper Energy. The source does not identify this as a Hornet Solar project sale.","official_url":"https://www.lendlease.com/"},{"relationship":"Acquirer of predecessor renewable-energy business","name":"Magnetar Capital","detail":"Acquired Lendlease's renewable-energy business on November 16, 2020, in a corporate transaction preceding the Hornet Solar construction period.","official_url":"https://www.magnetar.com/"}] — Source · confidence: medium
- Timeline.4: {"event":"Project debt financing close","date":"2024-01-31","detail":"Vesper Energy announced the closing of the $590 million construction-to-term loan and letter-of-credit financing package."} — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: high
- Timeline.5: {"event":"PTC transfer commitment close","date":"2024-02-01","detail":"Advantage Capital announced the closing of a 10-year PTC transfer commitment for the project, involving monetization of more than $500 million of PTCs."} — Advantage Capital Secures $500 Million Production Tax Credits Transfer Deal for Vesper Energy's Hornet Solar Project | Advantage Capital · confidence: high
- Timeline.6: {"event":"Commercial operation","date":"2025-04","detail":"Hornet Solar became fully operational in April 2025; Vesper Energy held a commercial-operation ribbon-cutting ceremony on April 10, 2025."} — Vesper Energy Cuts Ribbon on Hornet Solar, One of the Largest Single-Phase Solar Projects in the U.S. - Vesper Energy · confidence: medium
- Timeline.0: {"event":"Predecessor business founded","date":"2015","detail":"The Vesper Energy business was founded as Lendlease Energy Development."} — About - Vesper Energy · confidence: high
- Timeline.1: {"event":"Corporate acquisition and rebranding","date":"2020-11-16","detail":"Magnetar Capital acquired Lendlease's renewable-energy business, which was rebranded Vesper Energy. This was a corporate business transaction, not a separately identified sale of Hornet Solar."} — Source · confidence: high
- Timeline.1: {"event":"Corporate acquisition and rebranding","date":"2020-11-16","detail":"Magnetar Capital acquired Lendlease's renewable-energy business, which was rebranded Vesper Energy. This was a corporate business transaction, not a separately identified sale of Hornet Solar."} — Magnetar Extends Renewables Portfolio through Acquisition of Vesper Energy - Vesper Energy · confidence: high
- Timeline.2: {"event":"Early project development and tax agreement","date":"2022-05-19","detail":"A Texas Comptroller record for Hornet Solar LLC documented an earlier project concept of approximately 310 MWac on about 2,000 acres using single-axis-tracker photovoltaic technology."} — Source · confidence: medium
- Commercial parties.0: {"relationship":"Developer, owner, and operator","name":"Vesper Energy Development LLC","detail":"Parent company and project developer, owner, and operator; Hornet Solar LLC is its wholly owned indirect subsidiary.","official_url":"https://vesperenergy.com/"} — Source · confidence: high
- Commercial parties.2: {"relationship":"EPC contractor and constructor","name":"Blattner Energy","detail":"Constructed the Hornet Solar project.","official_url":"https://www.blattnercompany.com/"} — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: high
- Commercial parties.3: {"relationship":"Transmission interconnection provider","name":"Oncor Electric Delivery Company LLC","detail":"Hornet Solar interconnects with Oncor Electric's transmission system in ERCOT.","official_url":"https://www.oncor.com/"} — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: high
- Commercial parties.4: {"relationship":"Coordinating lead arranger","name":"MUFG Bank Ltd.","detail":"Coordinating lead arranger for the January 2024 project debt financing.","official_url":"https://www.mufg.jp/"} — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: high
- Commercial parties.5: {"relationship":"Coordinating lead arranger","name":"Nord/LB","detail":"Coordinating lead arranger for the January 2024 project debt financing.","official_url":"https://www.nordlb.com/"} — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: high
- Commercial parties.6: {"relationship":"Coordinating lead arranger","name":"Santander Corporate & Investment Banking","detail":"Coordinating lead arranger for the January 2024 project debt financing.","official_url":"https://www.santandercib.com/"} — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: high
- Commercial parties.7: {"relationship":"Joint lead arranger","name":"BayernLB","detail":"Joint lead arranger for the January 2024 project debt financing.","official_url":"https://www.bayernlb.com/"} — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: high
- Commercial parties.8: {"relationship":"Lender","name":"Associated Bank","detail":"Lender in the January 2024 project debt-financing bank group.","official_url":"https://www.associatedbank.com/"} — Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy · confidence: high
- Commercial parties.9: {"relationship":"PTC-transfer purchase-commitment arranger","name":"Advantage Capital","detail":"Arranged the 10-year purchase commitment used to monetize more than $500 million of Hornet Solar production tax credits.","official_url":"https://www.advantagecap.com/"} — Advantage Capital Secures $500 Million Production Tax Credits Transfer Deal for Vesper Energy's Hornet Solar Project | Advantage Capital · confidence: high
- Commercial parties.10: {"relationship":"Financing adviser","name":"CCA Capital","detail":"Advised Vesper Energy on sourcing and structuring the PTC-transfer commitment.","official_url":null} — Source · confidence: high

## Timeline

- 2015 — Predecessor business founded
  The Vesper Energy business was founded as Lendlease Energy Development.
  Source: About - Vesper Energy (https://vesperenergy.com/about/)
- 2022-05-19 — Early project development and tax agreement
  A Texas Comptroller record for Hornet Solar LLC documented an earlier project concept of approximately 310 MWac on about 2,000 acres using single-axis-tracker photovoltaic technology.
  Source: Source (https://assets.comptroller.texas.gov/ch313/1593/1593-tulia-hornet-findings.pdf)
- 2024-01-31 — Project debt financing close
  Vesper Energy announced the closing of the $590 million construction-to-term loan and letter-of-credit financing package.
  Source: Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy (https://vesperenergy.com/vesper-energy-closes-590-million-financing-hornet-solar-project)
- 2024-02-01 — PTC transfer commitment close
  Advantage Capital announced the closing of a 10-year PTC transfer commitment for the project, involving monetization of more than $500 million of PTCs.
  Source: Advantage Capital Secures $500 Million Production Tax Credits Transfer Deal for Vesper Energy's Hornet Solar Project | Advantage Capital (https://www.advantagecap.com/news/vesper-energy-closes-590-million-for-745-mw-texas-solar-project/)
- 2025-04 — Commercial operation
  Hornet Solar became fully operational in April 2025; Vesper Energy held a commercial-operation ribbon-cutting ceremony on April 10, 2025.
  Source: Vesper Energy Cuts Ribbon on Hornet Solar, One of the Largest Single-Phase Solar Projects in the U.S. - Vesper Energy (https://vesperenergy.com/vesper-energy-cuts-ribbon-on-hornet-solar-one-of-the-largest-single-phase-solar-projects-in-the-us/)

## Sources

- [Vesper Energy Closes $590 Million in Financing for its ...](https://vesperenergy.com/vesper-energy-closes-590-million-financing-hornet-solar-project/) — vesperenergy.com · tier other
- [MBR | Index](https://mbrweb.ferc.gov/SearchlkpEIA/Index?page=724) — mbrweb.ferc.gov · tier regulatory
- [Interchange - Documents](https://interchange.puc.texas.gov/search/documents/?controlNumber=35077&itemNumber=1355) — interchange.puc.texas.gov · tier regulatory
- [Vesper Energy Closes $590 Million in Financing for Its Hornet Solar Project - Elda River](https://www.eldariver.com/news/vesper-energy-closes-590-million-in-financing-for-its-hornet-solar-project) — eldariver.com · tier other
- [Vesper Energy Closes $590 Million in Financing for its Hornet Solar Project - Vesper Energy](https://vesperenergy.com/vesper-energy-closes-590-million-financing-hornet-solar-project) — vesperenergy.com · tier other
- [Vesper Energy Reaches Major Milestone with Hornet Solar Project: Final Module Installed - Vesper Energy](https://vesperenergy.com/vesper-energy-reaches-major-milestone-with-hornet-solar-project-final-module-installed/) — vesperenergy.com · tier other
- [1593-tulia-hornet-amendapp1](https://assets.comptroller.texas.gov/ch313/1593/1593-tulia-hornet-amendapp1.pdf) — assets.comptroller.texas.gov · tier regulatory
- [Advantage Capital Secures $500 Million Production Tax Credits Transfer Deal for Vesper Energy's Hornet Solar Project | Advantage Capital](https://www.advantagecap.com/news/vesper-energy-closes-590-million-for-745-mw-texas-solar-project/) — advantagecap.com · tier other
- [Source](https://interchange.puc.texas.gov/Documents/56919_4_1423544.PDF) — interchange.puc.texas.gov · tier regulatory
- [Source](https://www.lendlease.com/contentassets/c45282ec0a7b4881a9ae0fa85032c5dd/documents/lendlease-sells-renewable-energy-business.pdf) — lendlease.com · tier other
- [Source](https://assets.comptroller.texas.gov/ch313/1593/1593-tulia-hornet-findings.pdf) — assets.comptroller.texas.gov · tier regulatory
- [About - Vesper Energy](https://vesperenergy.com/about/) — vesperenergy.com · tier other
- [Vesper Energy Cuts Ribbon on Hornet Solar, One of the ...](https://vesperenergy.com/vesper-energy-cuts-ribbon-on-hornet-solar-one-of-the-largest-single-phase-solar-projects-in-the-us/) — vesperenergy.com · tier other
- [Source](https://eldariver.com/news/vesper-energy-closes-590-million-in-financing-for-its-hornet-solar-project) — eldariver.com · tier other
- [Magnetar Extends Renewables Portfolio through Acquisition of Vesper Energy - Vesper Energy](https://vesperenergy.com/magnetar-extends-renewables-portfolio-through-acquisition-of-vesper-energy/) — vesperenergy.com · tier other
- [Projects - 16 GW Pipeline of Solar & Storage Projects - Vesper Energy](https://vesperenergy.com/projects/) — vesperenergy.com · tier other
- [Vesper Energy to Provide Renewable Solar Electricity to Power Pfizer’s North American Operations - Vesper Energy](https://vesperenergy.com/vesper-energy-to-provide-renewable-solar-electricity-to-power-pfizers-north-american-operations/) — vesperenergy.com · tier other
- [Source](https://www.ercot.com/files/docs/2024/07/01/meter_point_provisional-approved_2026_02_04_1656.pdf) — ercot.com · tier regulatory
- [Monthly Outlook for Resource Adequacy (MORA)](https://www.ercot.com/files/docs/2025/03/07/MORA_May2025.pdf) — ercot.com · tier regulatory
- [Hornet Solar awards $13500 in Swisher County grants as ...](https://abc7amarillo.com/news/local/hornet-solar-awards-13500-in-swisher-county-grants-as-expansion-plans-continue-tulia-independent-school-district-tulia-high-school-tulia-chamber-of-commerce-kress-hi-neighbor-picnic-swisher-memorial-hospital-foundation-finish-the-ride) — abc7amarillo.com · tier other

## Data quality

- The identified November 2020 transaction was Lendlease's sale of its renewable-energy business to Magnetar Capital, after which the business was rebranded Vesper Energy; the transaction was not described as a sale of the Hornet Solar project itself, and no separate Hornet project sale consideration was identified. No retirement or repowering event is identified for Hornet Solar. The project is reported as fully operational from April 2025. The four offtake partners are referenced in the financing announcement but are not named there.

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