New York, January 19, 2022 – Mizuho Americas today announced it received the 2021 Project Finance International (PFI) Americas Renewable Deal of the Year Award for its role as coordinating lead arranger and administrative & collateral agent for the Kapolei Energy Storage (KES) project located in O’ahu, Hawaii. Award winners were selected among detailed award entries and final evaluations by the PFI senior editorial team.
Mizuho helped Plus Power secure approximately $219M of financing for the development of the 185MW / 565 MWh KES project in the largest standalone battery energy storage financing to date. The development and operation of KES allows for the storage of energy generated off-peak and during times when there is an abundance of renewable energy, which will assist with the retirement of AES Hawaii Power Plant, Hawaii’s last remaining coal power plant.
“We appreciate this prestigious honor from PFI in recognition of a project that greatly enhances renewable energy generation for Hawaii,” said Rahul D. Shah, Mizuho Americas Head of Project Finance. “Our team is dedicated to helping make critical projects like this a reality by facilitating financing that is mutually attractive to issuers and investors who are focused on ESG.”
About Mizuho Americas
Mizuho Americas is a leading provider of a broad range of financial services, including corporate and investment banking, lending, custody, treasury services, research and capital markets solutions. With professionals across the U.S., Canada, and Latin and South America, Mizuho Americas supports corporate clients, institutional investors, and public sector organizations by connecting local markets to a vast global network. To learn more about Mizuho Americas' business, values, and ethical commitments, and the entities it comprises, visit www.mizuhogroup.com/americas.
Mizuho Americas is an integral part of the Japan-based Mizuho Financial Group, Inc. (NYSE: MFG). Mizuho Financial Group is one of the largest financial institutions in the world, offering comprehensive financial and strategic services through its subsidiaries. The group has approximately 900 offices and 60,000 employees worldwide in nearly 40 countries throughout the Americas, EMEA, and Asia. As of December 31, 2020, its total assets were $2.1 trillion. Learn more about Mizuho Financial Group at www.mizuhogroup.com.
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Director, Media Relations, Mizuho Americas
Vice President, Media Relations, Mizuho Americas