Origis Energy, MUFG Close on Financing for Florida Municipal Solar Project

Origis Energy has closed on a $136 million construction financing facility and conversion to term loan with MUFG for its Rice Creek Solar project under construction in Putnam County, Fla.

Rice Creek Solar, a 75 MW PV solar facility project the company says is nearing completion, is contracted by the Florida Municipal Power Agency (FMPA) for its members. FMPA will serve as project coordinator for their member-owners, who are slated to purchase power from the facility. Origis is the project’s builder, owner and operator.

“Origis and MUFG continue to build a strong alliance,” says Vikas Anand, CEO of Origis Energy. 

“MUFG’s deep expertise in this sector and their well-defined underwriting process enable Origis to focus on speed to market and successful scaling of our business. Rice Creek Solar is a perfect example of moving the clean energy transition forward through collaborative municipal programs. We thank MUFG for their support and look forward to delivering the project for FMPA.”

Latham & Watkins represented Origis Energy in the transaction, with Akerman serving as local counsel. Milbank acted as MUFG’s counsel, with Greenberg Traurig serving as MUFG’s local counsel.