Sunraycer Renewables (Sunraycer) has reached the closing of a $475 million project financing facility with MUFG Bank, Ltd., Nomura Securities International, and Norddeutsche Landesbank Girzonentrale. This brings the total amount raised by Sunraycer to $675 million over the last six months. This financing facility is split between a construction-to-term loan and a tax credit bridge loan.
This financing facility will support the construction and operation of two of Sunraycer’s solar-plus-storage projects in Texas. The first project is named Gaia, located in Navarro County, having 143 MWac of solar and 75 MWac of storage capacity. The second project is the Midpoint with 97.5 MWac of solar and 50 MWac of storage capacity located in Hill County. The projects in total have 241 MWac of solar and 125 MWac of storage capacity and are expected to reach commercial operations later in 2025.
Sunraycer is a Crayhill Capital Management portfolio company providing pre-NTP and acquisition capital to developers involved in all types of renewable energy projects. It has a development and construction stage pipeline of approximately 2 GW of solar and 2 GW of BESS utility-scale power plants.
