Clean energy firm Sunraycer Renewables LLC has closed a $475 million project financing facility to support the development of two utility-scale solar and battery storage projects in Texas. The funding was secured in partnership with MUFG Bank Ltd, Nomura Securities International, and Norddeutsche Landesbank Girozentrale (Nord/LB), the company announced.
The two projects—Gaia and Midpoint—will together deliver 241 megawatts (MWac) of solar capacity and 125 MWac of battery energy storage to the Electric Reliability Council of Texas (ERCOT) grid. Gaia, a 143 MWac solar facility paired with 75 MWac of battery storage, is located in Navarro County. Midpoint, situated in Hill County, will include 97.5 MWac of solar and 50 MWac of battery capacity.
Construction on Midpoint began in late 2024, while both assets are expected to reach commercial operation later in 2025. The projects aim to help meet the rising electricity demand from manufacturing and data center operations in Texas, particularly as the ERCOT grid continues to expand to serve over 26 million customers.
The financing aligns with Sunraycer’s broader clean energy strategy, including its Accelerant Programme, which supports smaller developers through flexible capital and access to operational services. The approach is designed to streamline project execution and provide alternatives to traditional utility partnerships.
The Gaia and Midpoint projects mark a significant step in Sunraycer’s expansion efforts and further establish the company’s presence in the U.S. independent power producer market.
