Sunraycer Renewables has secured a $901 million project financing facility from MUFG Bank Limited., Ally Bank, Nomura Securities International, Inc., Norddeutsche Landesbank Girozentrale, and Societe Generale. The financing package comprises a construction-to-term loan, a tax credit bridge loan, and a letter of credit facility. It will support the construction and operation of three solar and battery energy storage system (BESS) projects in Texas, aggregating 479.5 MWac of solar generation capacity and 236.5 MWac of two-hour BESS.
The portfolio includes the 77 MWac Eagle Springs solar project paired with a 33 MWac BESS in Delta County, the 161.5 MWac Lupinus 1 solar project integrated with an 82 MWac BESS in Franklin County, and the 241 MWac Lupinus 2 solar project coupled with a 121.5 MWac BESS, also located in Franklin County. Moreover, construction activities for all three projects commenced in late 2025. Eagle Springs is expected to achieve commercial operations later in 2026. Meanwhile, Lupinus 1 and Lupinus 2 are anticipated to become operational by late 2027.
In March 2026, Sunraycer Renewables executed two long-term power purchase agreements with Google for the Lupinus 1 and Lupinus 2 solar projects.The agreements were facilitated through LevelTen Energy’s Accelerated Process.