Origis Energy Achieves Financial Milestone with Wheatland Solar Project Financing

Major Financing Milestone for Origis Energy

Origis Energy, a prominent player in the renewable energy sector in the United States, recently celebrated a significant achievement with the financial closing of its Wheatland Solar project in Knox County, Indiana. This project forms part of a broader $530+ million portfolio financing facilitated by MUFG, one of the largest financial groups globally. The announcement comes as part of an aggressive push to meet growing electricity demands and further decarbonization efforts in the energy sector.

Project Overview

Wheatland Solar is set to deliver an impressive 150 MWac of solar capacity, contributing to the clean energy initiatives of CenterPoint Energy through a secured Power Purchase Agreement (PPA). This ambitious solar project aims for completion in the first half of 2026, reinforcing Origis Energy’s strategic goal to expand its footprint in the renewable energy landscape.

Alongside Wheatland, the Optimist project located in Clay County, Mississippi, is also part of this financing initiative. This project will add an additional 200 MWac of solar capacity and provide energy storage capabilities of 50 MW for 4 hours, showcasing Origis Energy’s commitment to innovative energy solutions that meet modern energy challenges.

Both projects underline Origis Energy's role as a key developer, owner, and operator within the renewable sector, showcasing their extensive capabilities and expertise in delivering high-capacity solar solutions.

Insights from Leadership

In a statement, Vikas Anand, CEO of Origis Energy, expressed his enthusiasm regarding achieving this financing milestone, stating, "We are delighted to have reached this point in our journey with Wheatland Solar in collaboration with MUFG and our financing partners. As we navigate unprecedented growth in the demand for electricity, we are eager to successfully implement this project for CenterPoint and its clientele."

MUFG’s Patrick Klein also remarked on the strong partnership developed with Origis Energy. He noted, "This financing signifies not only our commitment to renewable energy development across the U.S. but also reflects the strength of our relationship with Origis. Supporting our clients in achieving their project goals is fundamental to our operations. We are proud to contribute to projects like Optimist and Wheatland that will generate clean power and stimulate economic opportunities regionally."

Collaborative Efforts

Under this initiative, MUFG took on multiple roles, including Coordinating Lead Arranger, Green Loan Coordinator, and Administrative Agent. Additional participants in this financing package included recognized names such as Associated Bank, CoBank, National Bank of Canada, and NatWest as Joint Lead Arrangers, while Amalgamated Bank and Siemens Financial Services also contributed as lenders.

The legal framework of the Wheatland transaction was managed by Latham & Watkins for Origis Energy, with Taft Stettinius serving as local counsel. On the other hand, Milbank, LLP represented MUFG, and Dentons acted as MUFG's local counsel, ensuring that all aspects of the transaction were meticulously handled.

About Origis Energy

As a frontrunner in the renewable energy domain, Origis Energy is dedicated to innovating solutions aimed at accelerating the transition to a carbon-free future. Their philosophy, captured in the concept of 'Reimagining Zero,' demonstrates their commitment to enhancing their contributions to global net-zero goals. Customers' needs remain paramount as they deploy diverse sustainable solutions that support grid power generation, performance optimization, and the long-term operation of solar facilities across the United States.

For more details on their projects, you can visit the links provided: Optimist Solar + Storage and Wheatland Solar.

About MUFG

Mitsubishi UFJ Financial Group, Inc. (MUFG) is a global leader in financial services with an extensive history spanning over 360 years. Headquartered in Tokyo, MUFG operates in over 50 countries with around 2,100 locations worldwide. It offers a myriad of services, including banking, asset management, and more, emphasizing a mission to be the world's most trusted financial institution.

MUFG aims to support economic growth while addressing the needs of its diverse clientele, including significant contributions to sustainable and impactful projects that advocate for renewable energy and technology enhancements.