The new financing round supports 350 MWac of solar capacity and 50 MW of energy storage American grid infrastructure
MIAMI, Dec. 18, 2024 /PRNewswire/ — Origis Energy, one of America’s leading renewable energy and decarbonization solution platforms, today announced the close of a $533 million construction financing facility, bridge loan facility, and conversion to term loan with MUFG, a leading global financial group, to support 350 MWac in solar capacity and 50 MW of energy storage supporting U.S. energy independence. The deal brings the parties joint U.S. renewable energy infrastructure financing to over $1 billion in the last 12 months.
This agreement supports two projects. Optimist Solar + Storage is a 200 MWac solar project combined with 50 MW of energy storage in Clay County, MS, with an expected completion date in late 2025. Wheatland Solar, in Knox County, IN, will bring online 150 MWac of solar in early 2026. Origis Energy is the builder, owner, and operator of the projects.
“Our alliance with MUFG continues to move Origis projects forward in a time of unprecedented energy demand. Optimist and Wheatland will power the equivalent of over 100,000 homes annually. The storage component in Mississippi will add resiliency to the grid,” said Vikas Anand, Chief Executive Officer, Origis Energy. “MUFG financing is helping us deliver affordable clean energy, fueling economic growth and job creation.”
“Renewable energy continues to be a core focus for MUFG as part of our strategic, long-term vision,” said Patrick Klein, deal team lead for MUFG. “We are proud of the ongoing collaboration and strengthening alliance that we have with Origis Energy.”
Latham & Watkins represented Origis Energy in the transaction, with Butler Snow serving as Local Counsel. Milbank, LLP acted as MUFG’s counsel, with Baker Donelson serving as MUFG’s Local Counsel.
More information is available about the projects here:
Optimist Solar + Storage https://origisenergy.com/project/optimist-solar-storage/
Wheatland Solar https://origisenergy.com/project/wheatland-solar/
About Origis Energy
Origis Energy is accelerating the transition to a carbon-free future by Reimagining ZeroSM. As one of America’s leading renewable energy and decarbonization solution platforms, the company continues to expand and reimagine its contribution to the world’s net-zero goals. Origis Energy puts customers first to deploy a wide range of sustainable solutions for grid power generation and performance, clean hydrogen and long-term operation of solar, energy storage and clean hydrogen plants across the U.S. Founded in 2008, Origis Energy is headquartered in Miami, FL. Learn more at www.origisenergy.com.
About MUFG and MUFG Americas
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,100 locations in more than 50 countries. MUFG has nearly 160,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to be “the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges.
MUFG’s Americas operations, including its offices in the U.S., Latin America, and Canada, are primarily organized under MUFG Bank, Ltd. and subsidiaries, and are focused on Global Corporate and Investment Banking, Japanese Corporate Banking, and Global Markets. MUFG is one of the largest foreign banking organizations in the Americas. For locations, banking capabilities and services, career opportunities, and more, visit www.mufgamericas.com.
SOURCE Origis Energy