rPlus Energies recently closed over $1 billion in financing for its Green River Energy Center project. Located in Emery County, Utah, this project includes 400MW of solar photovoltaic panels and 400MW/1,600 megawatt-hours of battery storage. A power purchase agreement has been signed with PacifiCorp, marking an important milestone for rPlus Energies as an independent power producer.
Leading financial partners
Five financial institutions are participating in this financing: Crédit Agricole Corporate and Investment Bank, KeyBanc Capital Markets, MUFG Bank, Ltd, Truist Securities Inc, and Wells Fargo Securities, LLC. MUFG is acting as administrative agent for the lenders, underscoring the importance of this financial transaction.
High-level legal support
Norton Rose Fulbright acted as lead counsel for rPlus, while Dorsey & Whitney provided specialized legal advice for Utah. The lenders were represented by Winston & Strawn, with support from Snell & Wilmer for local legal matters. This collaboration demonstrates the commitment of all parties to the success of this ambitious project.
Local economic impact
The Green River Energy Center is one of the largest solar projects with storage planned in Utah. The project is expected to generate around 500 jobs during construction, with a significant proportion of the workforce recruited locally. Once operational, it will increase local tax revenues, providing ongoing benefits to Emery County’s budget and services.
Long-term employment prospects
In addition to the jobs created during the construction phase, the Green River project will provide sustainable employment opportunities in the energy sector. Engineering, procurement and construction services will be provided by Sundt Renewables, ensuring high standards of quality and sustainability.
The Green River Energy Center represents a major step forward for rPlus Energies and for the renewable energy industry in the United States. This project illustrates the importance of strong partnerships with leading financial institutions and service providers. By strengthening the local economy and contributing to the energy transition, rPlus Energies is positioning itself as a leader in the field of renewable energies.
