Sunraycer secures $475M for Texas solar and storage projects

Sunraycer Renewables LLC, a US-based clean energy developer, has secured $475 million in financing from MUFG Bank, Nomura Securities, and Nord/LB. According to Sunraycer Renewables, the facility has included a construction-to-term loan, a tax credit bridge loan under IRA ITC provisions, and a letter of credit. The funding is supporting two solar-plus-storage projects in Texas: Gaia in Navarro County and Midpoint in Hill County, totaling 365.5 MW AC. Gaia has 143 MW AC of solar and 75 MW AC of battery storage, while Midpoint has 97.5 MW AC solar and 50 MW AC storage. Sunraycer said construction on Midpoint was started in late 2024, and both projects are expected to be operational in 2025. Sunraycer has also recently secured $200 million to support a 4 GW PV portfolio in the US.