Adapture Renewables secures financing from MUFG

Adapture Renewables, headquartered in the US, has secured $321 million in financing from Mitsubishi UFJ Financial Group (MUFG) to invest in its 441 MW Titanium solar portfolio. This project spans three sites across Arkansas and Illinois. MUFG acted as the lead arranger and administrative agent for the financing, marking Adapture’s first collaboration with the financial group. The financing package includes a construction loan and a tax credit bridge loan, made possible by the Inflation Reduction Act’s ITC transferability provisions. The first site began construction in fall 2024, with commercial operations expected to begin in early 2026. Once operational, the Titanium portfolio will generate enough electricity to power 71,000 homes annually. Adapture has also signed three Environmental Attributes Purchase Agreements (EAPAs) with Meta to procure renewable energy from the project sites.