The Energy Storage Report 2024

Now available to download, covering deployments, technology, policy and finance in the energy storage market

US$750 million credit facility raised for US solar, battery storage by Origis Energy

By Simon Yuen
LinkedIn
Twitter
Reddit
Facebook
Email

Renewable energy platform Origis Energy has obtained a US$750 million credit facility for its solar and energy storage development project pipeline in the US. 

The company said this financing round followed a US$375 million credit facility announced in May 2022, claiming it was the largest credit facility announced this year for a utility-scale solar and storage development project pipeline.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

First Citizens Bank’s division CIT was the lead arranger, with other lenders including Santander, Deutsche Bank, HSBC, Rabobank and Nomura, to name a few. 

“The offering upsized our 2022 facility by double and was also oversubscribed. The recent passing of the Inflation Reduction Act invoking incentive stability, market demand for high-quality clean energy generation and the strong Origis track record drove high interest in this financing round,” said Jamie Edwards, managing director of finance and accounting at Origis Energy.

Meanwhile, Origis Energy signed a supply agreement for more than 700MW of bifacial PERC PV modules from manufacturer Boviet Solar Technology last year.

Origis Energy ordered Boviet Solar’s Vega Series 550W PERC monocrystalline bifacial PV modules for its US utility-scale solar projects, with delivery expected in 2023. It was the second agreement that Origis made last year after it signed a 400MW supply agreement with Maxeon Solar, again for utility-scale projects and with delivery starting in June 2023.

This story first appeared on PV Tech.

Energy-Storage.news’ publisher Solar Media will host the 5th Energy Storage Summit USA, 28-29 March 2023 in Austin, Texas. Featuring a packed programme of panels, presentations and fireside chats from industry leaders focusing on accelerating the market for energy storage across the country. For more information, go to the website.

8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

Premium
May 23, 2024
The Kern County, California hybrid facility will have the capability to generate up to 2GW of solar power co-located with up to 2GW of battery energy storage system (BESS) capacity, spanning approximately 12,875 acres of privately owned land.
May 22, 2024
Developers SENS and Callio have revealed a hybrid project in Finland which could combine a battery energy storage system (BESS), pumped hydro energy storage and solar PV technology.
May 21, 2024
A roundup of large-scale solar and storage news from across the US, with RWE buying three projects from Galehead Development, Origis Energy securing US$300 million for its pipeline and Appalachian Power launching an RFP for 1.1GW of renewables and storage.
Premium
May 21, 2024
Finding developers who want long-term partnerships on projects is key when entering multiple different markets, the head of shipping and energy infrastructure firm BW Group’s energy storage development and operation arm says.
May 21, 2024
There is “no shortage of investor appetite” and policy support is in place, but there are still some barriers to energy storage deployment on the scale needed to decarbonise Australia’s energy sector.

Most Popular

Email Newsletter