The projects total 241 Mwac of solar and 125 Mwac of paired battery energy storage systems. The first of these, Gaia, is a 143 MWac solar + 75 MWac battery storage project located in Navarro County. The second, Midpoint, a 97.5 MWac solar + 50 MWac battery storage project located in Hill County, began construction late last year.
Both projects are expected to reach commercial operations later this year. Gaia and Midpoint will be instrumental in supporting the increased demand for energy from manufacturing and data centers in Texas over the next several years, particularly within the ERCOT grid, which manages the flow of electric power to more than 26 million Texas customers and operates the state’s independent electricity market.
“This transaction reflects the next step in Sunraycer’s growth toward becoming a leading IPP in the United States” said Sunraycer CEO David Lillefloren. “We are pleased to be working with MUFG, Nomura and Nord/LB, some of the most active project finance lenders in the renewable energy space. The financing further strengthens Sunraycer’s commitment to advancing clean energy initiatives across the US.”
Sunraycer’s Accelerant Programme offers a differentiated approach by working with smaller developers, offering flexible capital solutions and providing access to institutional O&M, energy management and generation management services. This design provides for certainty of execution and an alternative to working with traditional utilities. The programme’s success has cemented Sunraycer as a trusted partner within the industrial power sector, driving growth and fostering partnerships with an expanding portfolio that includes an ever-growing share of large data center operators.
“The Midpoint and Gaia assets will help meet growing demand in ERCOT and have material positive impacts on Texas ratepayers and the environment” added Louise Pesce, Managing Director at MUFG. “We are very impressed by the Sunraycer team, and are excited to support their future growth.”
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