US based solar energy company Origis Energy has raised $750 million development finance facility to support its pipeline of projects and calls it the 'largest announced' this year for a utility scale solar and storage portfolio.
It follows a $375 million facility the company announced in May 2022. "The offering upsizes our 2022 facility by double, and was also oversubscribed," said Origis Energy's Managing Director, Finance & Accounting, Jamie Edwards.
The new financing had CIT as the lead arranger and other lenders include Santander, Deutsche Bank, HSBC, Rabobank, and Nomura among others.
Edwards added, "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."
Origis recently entered into a module procurement agreement with First Solar, Inc for 2 GW DC of the latter's Series 6 Plus and Series 7 thin film solar panels to be delivered in 2026 and 2027. It is in addition to 750 MW DC capacity it placed an order for with the American manufacturer in April 2022 (see First Solar Bags 4.75 DC Module Orders).
The solar and storage company says it has secured more than 6 GW of solar modules for the 2023-2027 build schedule to support new and existing customers with guaranteed panel supply through 2027.
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