Birch Creek Energy, a US solar developer, announced on Monday the successful financing completion for its Earp Solar project, a 47-megawatt alternating current (MWac)/49-megawatt direct current (MWdc) solar facility located in Illinois.
According to Birch Creek, Earp Solar marks a significant achievement as the first project under its independent power producer (IPP) entity to achieve full financing and commence operations.
The financing structure included tax equity arranged by sponsor Foss & Company, permanent debt provided by solar energy financier West Town Bank & Trust, and construction capital underwritten and funded by Pathward NA bank.
Built on a 229-acre site in Warren County, Illinois, Earp Solar is interconnected with Ameren Illinois and has the capacity to generate electricity equivalent to powering over 7,300 homes.
“We announced our IPP strategy mid-2023, and since then have worked aggressively to complete the construction and financing of 6 projects in MISO territory totaling 342MW. Earp Solar represents the first of these projects and we are grateful to our partners who helped get us here,” commented Dan Siegel, CEO of Birch Creek.
