US renewable energy company Origis Energy has secured a $415 million financing package for the Swift Air Solar project in Ector County, Texas.
The package includes $290 million in construction and term debt from Natixis Corporate & Investment Banking, which also acted as the hedging bank, LC issuer, green loan coordinator, and administrative agent. Advantage Capital contributed $125 million in tax equity for the project.
Swift Air Solar, expected to begin commercial production by mid-2025, will have the capacity to power about 49,000 homes.
The project will supply zero-emission solar power to the STRATOS Direct Air Capture (DAC) facility in the Permian Basin, in partnership with Occidental and its subsidiary, 1PointFive.
Origis will continue as the builder, owner, and operator of the project.