Birch Creek Energy LLC, a St. Louis-based solar and storage developer and independent power producer (IPP), has announced the successful acquisition of a USD 150 million (EUR 138.6 million) credit facility from KKR & Co, a prominent private equity firm.
This financing will enhance Birch Creek's efforts to advance its extensive solar pipeline, which exceeds 4 GW.
The new facility expands and upsizes Birch Creek's previous USD 100 million credit arrangement. The funds will be allocated toward development expenses and the procurement of equipment for various solar projects within the company's development portfolio, according to a press statement.
Founded in 2019, Birch Creek Energy is concentrated on distribution-level utility-scale projects in key markets such as PJM, MISO, and ERCOT.
The company currently operates 160 MW of projects and has an additional 187 MW under construction, set to be operational in the final two months of 2024.
To date, Birch Creek has successfully developed 1.7 GW of solar projects and boasts a diverse portfolio of over 14.2 GW of utility-scale solar and storage projects at various stages of development and operation.
