Norton Rose Fulbright advises MUFG on US$236 million solar project financing

Global law firm Norton Rose Fulbright represented MUFG Bank Ltd. (MUFG) on the US$236 million financing of Vesper Energy's 201-megawatt Nazareth Solar project in Swisher County, Texas. The transaction closed on May 29, 2026.

Nazareth Solar will deliver power into the Electric Reliability Council of Texas (ERCOT), contributing to grid reliability and meeting growing demand for electricity in the region. The project will span more than 2,400 acres of private land and generate enough electricity to power approximately 53,000 homes annually.

On-site construction started in June 2026, with commercial operation targeted for Fall 2027. Once operational, Nazareth Solar will contribute to the local economy through tax revenue and employment opportunities, while providing long-term income for participating landowners.

The debt financing package consists of a construction-to-term loan and a letter of credit facility. MUFG served as sole coordinating lead arranger, bookrunner and administrative agent, with Associated Bank and BayernLB as the joint lead arrangers.

Norton Rose Fulbright's core deal team was led by Christine Brozynski and Christy Rivera and included Selena Skalisky and Laura Forero Orozco (New York). Additional support was provided by Luke Edney, Peyton Click, Lennis Barlow (Austin), Lauren Shapiro Newberry, Ben Grayson (Los Angeles), Marian Baldwin Fuerst, Grace Choi, Bridgette Keane, Imole Ogowewo (New York), Justin Davenport (San Antonio), Hilary Lefko, Conrad Bolston, Debra Ann Palmer and Adam Spiegel (Washington, DC).