Earthrise Energy has announced the closing of a $360 million financing package that refinanced its existing thermal-portfolio debt and supported development of its co-located solar portfolio. The portfolio was expected to add more than 1.7 GW of solar electricity through projects such as Gibson City, a 270 MW (AC) site under construction and targeted for 2026 operations, along with four additional projects planned to start construction in 2026. Santander and MUFG arranged the financing, which included a $300 million Term Loan B, a $30 million letter-of-credit facility, and a $30 million revolving credit facility. Earthrise’s natural-gas peaking fleet served as collateral and provided capacity amid rising PJM and MISO demand. The company noted the transaction followed earlier financing of 630M and a ribbon-cutting event at Gibson City Solar in Illinois.

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