rPlus Energies Secures Over $1 Billion in Construction Debt Financing for 800 MW Green River Energy Center
16 Julio 2024 - 8:00AM
Business Wire
rPlus Energies announced today the successful closing of over $1
billion in construction debt financing for its Green River Energy
Center project subsidiary. Located in Emery County, an area with a
long history of energy production, the project is comprised of 400
megawatts (MW) of solar PV and 400 MW/1,600 megawatt-hours of
battery storage and has a power purchase agreement with
PacifiCorp.
Five world-class financial institutions are contributing to this
debt financing deal as coordinating lead arrangers. They are Crédit
Agricole Corporate and Investment Bank, KeyBanc Capital Markets,
MUFG Bank, Ltd. (“MUFG”), Truist Securities Inc., and Wells Fargo
Securities, LLC, with MUFG acting as Administrative Agent for the
lenders.
“The Green River Energy Center marks rPlus Energies' debut as an
independent power producer,” said rPlus Energies’ President &
CEO, Luigi Resta. “We extend our deep gratitude to the five
esteemed lenders, and their affiliates and syndicate members, for
supporting one of the largest projects of its kind in the
country.”
Norton Rose Fulbright served as lead counsel to rPlus. Dorsey
& Whitney served as special Utah counsel to rPlus. The lenders
were represented by Winston & Strawn, with support from Snell
& Wilmer on Utah law matters.
Green River Energy Center stands as one of the largest planned
solar-plus-storage facilities in Utah and ranks among the most
expansive solar energy facilities within PacifiCorp’s system. The
project is expected to generate approximately 500 construction jobs
with a significant percentage of the full workforce expected to be
hired locally, and once operational, will significantly boost local
tax revenue to Emery County, providing an ongoing benefit to the
county’s budget and services, in addition to long-term energy
employment opportunities.
Engineering, procurement, and construction services will be
provided by Sundt Renewables.
About rPlus Energies
rPlus Energies is a team of committed energy industry
professionals working together to develop, own and operate
large-scale renewable energy generation and electric storage
projects in the United States. The company specializes in bringing
projects to market through partnership with the private sector,
municipalities, utilities, and industry-leading technology and
service providers. Its portfolio consists of a strategic mix of
solar, battery, wind, and pumped storage hydro facilities. rPlus
Energies is headquartered in Salt Lake City, Utah and is backed by
Sandbrook Capital and Gardner Group.
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rPlus Energies Media Contact Maile Resta Communications
Associate, rPlus Energies mresta@rplusenergies.com