rPlus Energies secured $304 million in financing, including $179 million for the construction of Pleasant Valley Solar 2 in Ada County, Idaho, and a $125 million Corporate Letter of Credit Facility with Deutsche Bank. The construction debt facility, led by Canadian Imperial Bank of Commerce, Crédit Agricole, and KeyBanc, will fund the project, which will supply energy to Idaho Power’s grid and support Meta’s renewable energy goals for its Kuna data center. Currently under construction, the project will create 200 jobs and contribute through a 3.5% solar energy tax. The Corporate Letter of Credit Facility will provide financial flexibility for rPlus Energies to advance 1.2 GW of projects under construction and 15 GW in development.
rPlus Energies strengthens portfolio with new financing deals
Pleasant Valley Solar 2 secured funding through construction debt and credit facilities to support renewable energy and Meta’s Kuna data center. (Image Source: rPlus)
KYOCERA completed a solar energy project in Ohio, reducing reliance on traditional energy sources and advancing its 2031 renewable energy goal. (Image Credit/Source:MarkStebnicki/Pexels)
DOE’s $559.4 million support enabled Convergent to strengthen Puerto Rico’s grid and advance its path toward 100% clean energy by 2050. (Image Credit/Source: Andreas160578/Pixabay)
Neoen secured AUD 1.4 billion to support 15 renewable energy assets totaling 2.9 GW, backed by 11 major global lenders. (Image Source:Neoen)
Norsun’s bankruptcy halts solar production in Årdal, impacting 70 employees and Norway’s renewable sector. (Image Source: NRK)