rPlus Energies secures over $1 billion in construction debt financing and $500 million in tax equity for the 400 MW Green River Energy Center solar-plus-storage project in Utah

Type: Financing · Technology: Hybrid · Country: United States · Capacity: 400 MW · Value: $1.5B · Announced: 2026-07-02

rPlus Energies closed over $1 billion in construction debt financing and a $500 million tax equity commitment from RBC Community Investments and a syndicate of investors to support the 400 MW Green River Energy Center solar-plus-storage project in Emery County, Utah. The project integrates 400 MW of solar PV with 1,600 MWh of battery storage, making it the largest solar-plus-storage facility in PacifiCorp’s six-state service territory upon completion. Construction financing was structured to leverage the federal Investment Tax Credit (ITC), with the tax equity round finalized in summer 2025 to fund the project’s $1 billion-plus capital investment. The project was originally planned as a 400 MW solar PV facility with 400 MWh of storage but was expanded in 2024 to quadruple storage capacity to 1,600 MWh, positioning it among the largest such projects under development in the U.S. The financing round follows a 2024 amendment to PacifiCorp’s power purchase agreement (PPA) that enabled the storage expansion, demonstrating coordinated financing and offtake support for the initiative.

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