Origis Energy, a prominent player in America’s renewable energy landscape, has announced the successful closure of a remarkable $750 million construction warehouse facility. This monumental development is poised to catalyze large-scale solar and energy storage projects, collectively amounting to an impressive 2 gigawatts (GW) across 15 states in the forthcoming three years.
Building on Success
This landmark announcement builds upon Origis Energy’s impressive momentum. In March 2023, the company finalized an upsizing amendment to their existing $750 million development finance facility, reflecting their steadfast commitment to advancing clean energy solutions.
Scope of the Warehouse Facility
The warehouse facility will provide the crucial financial backing needed for the construction of expansive solar, storage, and co-located solar plus storage projects. With anticipated completion dates extending up to 2026, these initiatives are expected to make substantial contributions to the renewable energy landscape. A noteworthy aspect is the comprehensive portfolio of Power Purchase Agreements (PPAs) already in place, catering to a diverse array of utility and corporate clients.
Origis Energy’s Remarkable Pipeline
Origis Energy stands at the forefront of clean energy development, boasting an impressive pipeline encompassing a staggering 18 GW of solar capacity and 36 GWh of storage capacity. The company’s industry-leading efforts extend across 31 states, showcasing their commitment to making a significant impact on a national scale.
Key Collaborators
Santander Corporate and Investment Banking has played a pivotal role as the structuring agent, green loan coordinator, and coordinating lead arranger for this financial endeavor. They have been joined by esteemed partners Rabobank and Natixis Corporate & Investment Banking, who contributed their expertise as coordinating lead arrangers, hedge providers, and letter of credit issuers.
A Future Driven by Renewable Energy
Origis Energy’s milestone achievement is a testament to the ever-growing importance of renewable energy in reshaping the energy landscape. By securing significant funding and strategically collaborating with key players, the company is poised to play a pivotal role in propelling the United States toward a cleaner and more sustainable energy future.
As the world grapples with pressing environmental concerns, collaborations of this nature underscore the pivotal role that businesses and financial institutions can play in accelerating the transition to a greener and more resilient energy infrastructure.