Origis Energy on April 16 announced the close of a $136 million construction financing facility and conversion to term loan with MUFG for the Rice Creek Solar project under construction in Putnam County, Florida, for the Florida Municipal Power Agency and its members.
Rice Creek Solar, a 75-megawatt project nearing completion, is a PV solar facility contracted by FMPA for its members and is part of one of the largest municipal-backed solar initiatives in the nation.
FMPA will serve as the project coordinator for their member-owners, who will purchase power from the Rice Creek Solar facility.
Origis Energy is the builder, owner, and operator of the project.
Rice Creek Solar is expected to qualify for an Energy Community Adder to Investment Tax Credits, under the Inflation Reduction Act provisions, Origis Energy said.
“The additional IRA incentive is rare for Florida-based solar projects and is due to its proximity to a recently decommissioned coal power plant in the same census tract,” it said.
