42MW Altona
Solar is the first Birch Creek asset in
Missouri to achieve full
operation
ST.
LOUIS, Aug. 15, 2024 /PRNewswire/ -- Birch Creek
Energy, LLC ("Birch Creek"), a St.
Louis based renewable energy company, announced the
completion of financing and full operation of Altona Solar, a 42MW utility scale solar project
based in Missouri. This facility, along with the recently
completed 49MW project Earp Solar in
Illinois, represents the second of
several projects slated to come on-line this year as part of Birch
Creek's independent power producer ("IPP") strategy.
"We cannot thank our financing partners enough for their
invaluable support as we complete our first project in our home
state of Missouri," added
Max Whitacre, EVP of Project Finance
for Birch Creek. "It is such a pleasure working with the
Celtic and West Town teams, and we look forward to continued
financings with both relationships as we continue to build out our
IPP."
Tax equity was provided by Celtic Bank, who in addition to
providing financing for this project, participated on the
previously completed Earp project. Permanent debt was
provided by West Town Bank & Trust.
"Celtic Bank is honored to reinforce our commitment to the
renewable energy sector by providing tax equity for Birch Creek's
impactful projects," stated Justin
Fuller, SVP of Renewable Energy Finance at Celtic Bank. "Our
focus on strategic lending and investing in the renewable energy
sector aligns perfectly with Birch Creek's ambitious utility-scale
solar and storage projects. We are confident that our continued
financial partnership will facilitate the successful realization of
these and future projects."
"We are proud to support the clean energy infrastructure Birch
Creek is developing in the state of Missouri," said Riddick Skinner, EVP of Government Lending at
West Town Bank & Trust. "The success of our industry banks on
strong partnerships, and we look forward to continuing to support
Birch Creek alongside their partners as they grow through the
Altona project."
Altona Solar is a 42MWdc solar
project based in Audrain County,
Missouri. The project is sited on 208 acres and connects to
Ameren Missouri. Altona Solar
generates enough clean electricity to power over 6,300
homes.
About Birch Creek Energy
Birch Creek Energy, a utility
scale solar development platform, develops, finances and owns
utility scale solar and storage projects in the United States. Since 2019, Birch Creek
Energy has developed 1.7 gigawatts (GW) of solar projects and has a
portfolio of over 14.2 gigawatts (GW) of utility scale solar and
storage projects in various stages of development and
operation across MISO, PJM, ERCOT and the Southeast. Birch
Creek Energy has 56 employees and is based in St. Louis, Missouri. For more
information, visit www.birchcreekenergy.com.
About Celtic Bank
Founded in 2001 and headquartered in
Salt Lake City, Utah, Celtic Bank
is an industrial bank specializing in a diverse range of financing
solutions for businesses. The bank's early focus was in small
business lending through the SBA loan program and Celtic continues
to consistently rank in the top 10 SBA lenders nationwide by dollar
volume. Over the years, the bank has expanded its offerings through
financial technology partnerships and has grown its assets in other
sectors, including renewable energy, equipment, asset-based lending
(ABL), software and franchising, allowing the bank to assist a
broad range of commercial customers across different industries and
lifecycles.
About West Town Bank & Trust
West Town Bank &
Trust is a dedicated financing partner for solar energy,
specializing in the efficient application of the USDA's Rural
Energy for America Program. With its specialized renewable energy
team, West Town streamlines access to development capital with
creative financing solutions. West Town has authorized over
$1 billion in solar financing since
2016, facilitating industry innovation, the growth of clean energy,
and rural economic development. The bank is chartered in
Illinois with headquarters in
Raleigh, North Carolina. For more
information about West Town Bank & Trust, visit
www.westtownbank.com.
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SOURCE Birch Creek Energy