Earthrise Energy has secured close of a $630 million debt financing for the Gibson City Solar project. The project has a capacity of 270 MWac and is situated within Illinois’ MISO power market. The debt financing consists of a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility.
Marathon Capital acted as the financial advisor to Earthrise Energy on the overall transaction. Cornerstone Financial Advisors acted as the financial advisor to the tax equity investor. Additionally, the solar project is expected to achieve commercial operations in 2026.
Earthrise Energy is an independent power producer that acquires, owns, and operates legacy fossil fuel assets and repurposes the transmission infrastructure for renewable energy development projects. It has 1.7 GW of gas-fired generation capacity and has a solar development pipeline of more than 1.7 GW.
