Renewables developer rPlus Energies has secured US$100 million in tax equity financing for its 125MW solar PV plant in the US state of Idaho.
The financing will support the construction of the Pleasant Valley Solar 2 project, which began earlier this year and is led by engineering, procurement and construction (EPC) contractor Sundt Construction and managed by rPlus Energies. Commercial operations are expected to begin in 2026.
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Located in Ada County, the solar PV plant will be the second project from the developer to deliver solar electricity to state utility Idaho Power. The first, Pleasant Valley Solar, was commissioned in April of this year and has a capacity of 261MW.
Both projects have secured a power purchase agreement with Idaho Power and Silicon Valley giant Meta. The electricity generated at the solar PV plant will support operations at Meta’s data centres in Kuna, Idaho.
The tax equity financing commitment was secured with US financing company Truist Bank. This brings the total tax equity financial commitments to more than US$600 million in 2025, including over US$500 million in the financing of a 400MW solar-plus-storage project in Utah. The Green River Energy Centre, currently under construction, includes 400MW/1,600MWh of battery energy storage system (BESS) and is expected to be completed in 2026.
