Origis Energy Secures $415 Million for Swift Air Solar Project in Texas
Origis Energy, a prominent name in the U.S. renewable energy sector, recently announced the closing of a substantial financing package totaling $415 million for its Swift Air Solar project, located in Ector County, Texas. The funding comprises contributions from Natixis Corporate Investment Banking (CIB) and Advantage Capital, covering critical components such as construction capital, term debt, and tax equity.
Acting as the sole coordinating lead arranger, hedging bank, and administrative agent, Natixis CIB orchestrated a deal that included $290 million earmarked for construction and term debt financing. Additionally, Advantage Capital stepped in with a noteworthy $125 million in tax equity. The Swift Air Solar project is currently under construction and is on track to begin commercial operations in mid-2025.
What makes this project particularly exciting is its partnership with Occidental Petroleum and its subsidiary, 1PointFive, which aims to utilize the solar power generated for the world’s first large-scale Direct Air Capture (DAC) facility, STRATOS, located in the Permian Basin. This innovative facility will capture carbon dioxide from the atmosphere, making the transition to a low-carbon future even more ambitious and feasible. Vikas Anand, CEO of Origis Energy, expressed his enthusiasm, stating that this endeavor not only aligns with the company’s mission to provide decarbonization solutions but also signifies a significant progression in renewable energy deployment.
The collaboration with Natixis CIB is noteworthy as it marks the third transaction between the two entities, demonstrating the strong partnership and mutual commitment to advancing clean energy projects. According to Nasir Khan, Managing Director and Head of Infrastructure Energy Finance at Natixis CIB, this funding encapsulates their dedication to financing renewable energy initiatives that advance the global energy transition.
Furthermore, Tom Bitting, Managing Director at Advantage Capital, highlighted the project’s potential for economic development and environmental impact, remarking on how it embodies the type of transformative renewable energy projects they aim to support.
With a vision of fostering a robust clean energy future, Origis Energy continues to innovate, striving towards its goal of a carbon-free world under its mantra of transforming the energy landscape. Founded in 2008 and headquartered in Miami, Florida, Origis aims to redefine what is possible in the renewable energy sector, having already made significant strides in providing various sustainable energy solutions across the country.
For investors and stakeholders alike, the Swift Air Solar project represents not merely a financial investment but a landmark development in renewable energy technology and sustainability. By integrating superior financing models with cutting-edge solar technology, the project encapsulates the essence of modern energy solutions while paving the way for future innovations in the field.
As the global community increasingly prioritizes carbon neutrality, projects like Swift Air Solar become crucial in meeting energy demands responsibly. The confluence of advanced technology, creative financing, and strategic partnerships paints a hopeful picture for environmental sustainability and economic growth. For more details about Origis Energy and their transformative projects, visit their official website.
Acting as the sole coordinating lead arranger, hedging bank, and administrative agent, Natixis CIB orchestrated a deal that included $290 million earmarked for construction and term debt financing. Additionally, Advantage Capital stepped in with a noteworthy $125 million in tax equity. The Swift Air Solar project is currently under construction and is on track to begin commercial operations in mid-2025.
What makes this project particularly exciting is its partnership with Occidental Petroleum and its subsidiary, 1PointFive, which aims to utilize the solar power generated for the world’s first large-scale Direct Air Capture (DAC) facility, STRATOS, located in the Permian Basin. This innovative facility will capture carbon dioxide from the atmosphere, making the transition to a low-carbon future even more ambitious and feasible. Vikas Anand, CEO of Origis Energy, expressed his enthusiasm, stating that this endeavor not only aligns with the company’s mission to provide decarbonization solutions but also signifies a significant progression in renewable energy deployment.
The collaboration with Natixis CIB is noteworthy as it marks the third transaction between the two entities, demonstrating the strong partnership and mutual commitment to advancing clean energy projects. According to Nasir Khan, Managing Director and Head of Infrastructure Energy Finance at Natixis CIB, this funding encapsulates their dedication to financing renewable energy initiatives that advance the global energy transition.
Furthermore, Tom Bitting, Managing Director at Advantage Capital, highlighted the project’s potential for economic development and environmental impact, remarking on how it embodies the type of transformative renewable energy projects they aim to support.
With a vision of fostering a robust clean energy future, Origis Energy continues to innovate, striving towards its goal of a carbon-free world under its mantra of transforming the energy landscape. Founded in 2008 and headquartered in Miami, Florida, Origis aims to redefine what is possible in the renewable energy sector, having already made significant strides in providing various sustainable energy solutions across the country.
For investors and stakeholders alike, the Swift Air Solar project represents not merely a financial investment but a landmark development in renewable energy technology and sustainability. By integrating superior financing models with cutting-edge solar technology, the project encapsulates the essence of modern energy solutions while paving the way for future innovations in the field.
As the global community increasingly prioritizes carbon neutrality, projects like Swift Air Solar become crucial in meeting energy demands responsibly. The confluence of advanced technology, creative financing, and strategic partnerships paints a hopeful picture for environmental sustainability and economic growth. For more details about Origis Energy and their transformative projects, visit their official website.
Topics Energy）
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