Sunraycer Renewables bags US$475 million for solar-plus-storage projects in Texas

By April Bonner
April 14, 2025
Facebook
Twitter
LinkedIn
Reddit
Email
The US$475 million facility is divided between a construction-to-term loan and a tax credit bridge loan. Image: Unsplash.

US renewable energy company Sunraycer Renewables has closed a US$475 million project financing facility for two solar-plus-storage projects in Texas.

Financing was closed with MUFG Bank, Nomura Securities International and Norddeutsche Landesbank Girzonentrale (Nord/LB).

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The US$475 million facility is divided between a construction-to-term loan and a tax credit bridge loan. It also includes a letter of credit.

Sunraycer’s two solar-plus-storage projects include the 143MW PV and 75MW battery storage Gaia project in Navarro County, Texas and the 97.5MW PV and 50MW battery storage Midpoint project located in Hill County, Texas.

The projects have a total capacity of 241MW solar PV and 125MW battery energy storage, and Sunraycer says they are expected to reach commercial operations later this year.

The company highlights the need for the projects amidst the increased manufacturing and data centre activity within the Electric Reliability Council of Texas (ERCOT) market.

Annapolis, Maryland-based Sunraycer is owned by private asset management firm Crayhill Capital Management. The company claims to have a development and construction pipeline of approximately 2GW of solar and 2GW of battery energy storage system (BESS) projects.

Read the full version of this article on our sister site, Energy-storage.news.

PV Tech publisher Solar Media will be organising the fourth edition of Large Scale Solar USA in Dallas, Texas 29-30 April. After a record year for solar PV additions in the US, the event will dive into the ongoing uncertainties on tariffs, tax credits and trade policies as more domestic manufacturing becomes operational. Other challenges, such as the interconnection queues and permitting, will also be covered in Dallas. More information, including how to attend, can be read here.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

October 28, 2025
GreenYellow plans to invest US$116 million in Poland over the next three years to expand its installed capacity and customer base.
Premium
October 28, 2025
BESS are 'the new player that everyone is talking about,' in Europe’s power purchase agreement (PPA) space, according to LevelTen.
October 28, 2025
GoldenPeaks Capital secures EUR114 million (US$132 million) financing package for two solar PV Portfolio in Poland.
October 28, 2025
Chinese solar inverter producer GoodWe has launched a new “low noise, low weight” string inverter for the European corporate & industrial solar market.
October 28, 2025
Fotowatio Renewable Ventures (FRV) Australia has announced the development of a 210MWdc solar project in New Zealand's Rangitikei District.
October 27, 2025
Chinese engineering firm Shanghai Electric has signed an engineering, procurement, and construction (EPC) contract with independent power producer (IPP) Econergy to build a 342MW solar PV plant in Romania.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany