Renewables company Origis Energy has closed a $415 million funding package for the Swift Air Solar project in Ector County, Texas. (Source: Shutterstock)
Renewables company Origis Energy has closed a $415 million funding package for the Swift Air Solar project in Ector County, Texas, Origis said in a Jan. 9 press release.
The funding includes construction, term debt and tax equity financing from Natixis Corporate & Investment Banking (CIB) and Advantage Capital.
Swift Air Solar, which is currently under construction, will enter commercial production in mid-2025, the company said.
The project is also under an agreement with Occidental Petroleum and its subsidiary 1PointFive to provide zero-emission solar power for the STRATOS direct air capture facility in the Permian Basin.
"This is an exciting project, helping to power the world's first large-scale direct air capture plant. This directly aligns with our mission to supply decarbonization solutions," said Vikas Anand, CEO of Origis Energy.
Natixis CIB acted as sole coordinating lead arranger, hedging bank, LC issuer, green loan coordinator and administrative agent for the $290 million construction and term debt financing. Advantage Capital is providing $125 million in tax equity for the project.
The Swift Air Solar funding represents the third transaction for Origis and Natixis CIB, Origis said.
Recommended Reading
TGS to Conduct Ocean-Bottom Node Survey Offshore Trinidad
2025-04-07 - TGS has awarded a client a shallow water ocean bottom node contract offshore Trinidad.
Shell Takes FID on Gato do Mato Project Offshore Brazil
2025-03-23 - Shell Plc will be the operator and 50% owner, with Ecopetrol holding 30% interest and TotalEnergies 20%.
BP Earns Approval to Redevelop Oil Fields in Northern Iraq
2025-03-27 - The agreement with Iraq’s government is for an initial phase that includes oil and gas production of more than 3 Bboe, BP stated.
DNO ‘Hot Streak’ Continues with North Sea Discovery
2025-03-26 - DNO ASA has made 10 discoveries since 2021 in the Troll-Gjøa exploration and development area.
On The Market This Week (April 7, 2025)
2025-04-11 - Here is a roundup of marketed oil and gas leaseholds in the Permian, Uinta, Haynesville and Niobrara from select E&Ps for the week of April 7, 2025.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.