PPA for 200 MW solar plant: The US arm of Germany’s RWE AG has signed a power purchase agreement (PPA) with tech giant Meta Platforms for the 200 MW AC Waterloo Solar Project in Texas. The Bastrop County-located facility will supply 100% of its solar electricity generation to Meta to support its growing regional operations and data center capacity in the US state. The project is scheduled to enter construction in late 2025. This is the 3rd long-term PPA between the 2 companies, representing a combined offtake of 574 MW from RWE’s projects in Texas, Illinois and Louisiana (see Meta Invests In 2 New Solar Farms With 374 MW Combined Capacity). 

X-Elio’s 172 MW VPPAs: Brookfield-backed X-ELIO has signed 6 virtual power purchase agreements (VPPA) with Cisco, Biogen, IDEXX Laboratories, and Water Corporation for 172 MW solar in the US. The transaction for purchaser-caused energy attribute certificates (PC EAC) relates to the Star Dairy and Rosebud solar farms of X-Elio. Facilitated by Sustainability Roundtable, Inc. (SR Inc.), through its Net Zero Consortium for Buyers (NZCB), this transaction will support the latter’s goal of causing 10 GW of new renewable energy capacity through 2030. 

$400 million for Catalyze: Independent power producer (IPP) of distributed renewable energy assets Catalyze has secured a $400 million multi-year debt facility. It raised the proceeds from ATLAS SP Partners, the warehouse finance and securitized products business majority owned by Apollo funds. It will use the proceeds to construct and aggregate its growing portfolio of commercial and industrial (C&I), community solar, and battery storage projects across the US. These comprise 300 MW in operation and construction and an over 1 GW project development pipeline.  

$334 million for NorthStar: CMS Energy subsidiary NorthStar Clean Energy has raised up to $334 million in construction-to-term financing for 250 MW solar capacity in Michigan, US. It comprises the 200 MW Branch Solar Project and the 50 MW Genesee Solar Project. The latter is located in a historically disenfranchised community in Genesee County. The lead arrangers of the transaction were BNP Paribas, MUFG and SMBC. 

Dimension Energy’s credit facility upsized: US-based community solar and battery storage developer Dimension Energy recently announced the upsizing of a corporate credit facility to $300 million. Co-led by Deutsche Bank and Nuveen Energy Infrastructure Credit, the facility was upsized from $150 million to a total commitment of $300 million. It will further the deployment of Dimension’s 3.5 GW community solar pipeline (see $150 Million For 2 GW US Community Solar Development).