Independent power producer Sol Systems has announced a $675m revolving construction finance facility to support its upcoming solar and storage developments.
The funding will back construction loans, tax equity bridge loans, and letters of credit for an initial 500MW of projects across Illinois, Ohio, and Texas. The first group of projects is expected to go online by the end of 2026.
“This facility is a major step forward in scaling Sol’s operating portfolio,” said Richard Romero, CFO of Sol Systems.
“It gives us the capital to reliably and quickly deliver clean energy projects across the country. We’re grateful to our partners and lenders for their vision, trust, and alignment to accelerate this shared mission.”
The company noted that the financing demonstrates strong investor confidence in the long-term value of clean energy assets. The pipeline includes shovel-ready projects that align with both state and corporate decarbonisation goals.
“We’ve seen long term energy supply and demand market dynamics drive continued investment into renewables,” said Dan Diamond, Chief Development Officer at Sol Systems.
“Customers continue to leverage utility scale solar for cleaner, faster, cheaper generation supply. This sizable financing paves the way for the growth of our IPP platform.”
Sol Systems says the funding will enable it to expand its operations more efficiently, supporting the broader deployment of renewable infrastructure and reinforcing its position as a leading independent power producer.
[Image credit: Sol Systems. Image caption: The three-year commitment will initially fund 500 MW of solar and storage projects across Illinois, Ohio, and Texas]
