Origis Energy secures US$136 million facility for 75MW Florida PV plant
Summary
This project is part of a 600MW solar PV portfolio that the FMPA, Origis Energy and municipal utilities in Florida have partnered with. The second phase is expected to add 300MW of solar capacity with projects to be completed throughout 2025 and 2026.The project is located near a recently decommissioned coal power plant, which would allow it to receive incentives from the Inflation Reduction Act (IRA). According to the company, the Rice Creek Solar is expected to qualify for an Energy Community Adder to investment tax credits (ITC), under IRA provisions.Earlier this year Origis Energy secured US$317 million tax equity funding for solar projects in the US states of New Mexico and Mississippi, with a combined capacity of 350MW. The agreement leverages both the ITC and production tax credit incentives from the IRA provisions.Similar to the Rice Creek Solar project, the project located in New Mexico which is under construction is built near a retired coal power plant.In Mississippi, the developer secured US$344 million for a 200MW solar project with MUFG last December. Moreover, it will be co-located with a 200MWh battery energy storage system.