US renewable power developer Origis Energy has secured a financing package from Japanese bank MUFG to support the development of a 350MW solar portfolio in the US.
The portfolio comprises two projects: the 150MW Wheatland solar project in Indiana and the 200MW Optimist project in Mississippi. The latter will be co-located with 50MW of battery storage using 4-hour batteries.
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Both projects are expected to be commissioned in the first half of 2026, and Origis has secured power purchase agreements (PPAs) for each; power from the Wheatland project will be sold to CenterPoint Energy, a utility headquartered in Texas, while power from the Optimist project will be sold to the Tennessee Valley Authority.
MUFG was the coordinating lead arranger for the deal, the value of which has not been disclosed. The investment has been supported by a number of other lenders, including the National Bank of Canada, NatWest and Siemens Financial Services.
The news follows a number of other investments made by MUFG into the US solar sector, with Adapture Renewables and Matrix Renewables both securing finance from MUFG for solar projects in the US within the last year. This is also not the first time that MUFG and Origis have worked together, with the former providing a US$136 million financing facility for a 75MW project in Florida belonging to the latter.
Sustained investment in solar projects is also a positive development for an industry that has been buffeted by uncertainty following the passage of president Donald Trump’s “One Big Beautiful Bill” through the Legislative Branch of the US government. This week, figures from the Solar Energy Industries Association (SEIA) and Wood Mackenzie showed that, despite this uncertainty, the US added 10.8GW of new solar generation capacity to the grid in the first quarter of this year.
