Nuveen Backs U.S. Clean Energy Giant SunZia with $546 Million

The SunZia project, spearheaded by developer Pattern Energy, connects a 3,650-megawatt wind farm to a 550-mile high-voltage direct current transmission line. By bridging the gap between New Mexico’s wind resources and the western power grid, the installation is projected to supply enough electricity for one million homes annually—surpassing the output capacity of the Hoover Dam.

This transaction is part of a broader financial commitment from Nuveen and its co-investors, totaling roughly $1.5 billion across four separate investments. Don Dimitrievich, head of Nuveen Energy Infrastructure Credit, noted that the firm sought to support projects capable of meeting the nation's energy demands at speed. Kenji Ogawa, senior vice president of project finance at Pattern Energy, pointed to the agreement as a validation of the project’s technical and operational fundamentals. Legal counsel for the deal included Milbank LLP for Nuveen and Skadden, Arps, Slate, Meagher & Flom LLP for Pattern Energy.