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If anyone tells you that there’s trepidation in the renewable energy finance world ahead of President Trump’s inauguration, send them this article.
Miami, Florida-based Origis Energy, which develops, builds, and operates large-scale clean generation and storage projects, has announced a new strategic investment from Brookfield Asset Management and new commitments from existing sponsor Antin Infrastructure Partners which could exceed $1 billion total.
The fresh capital and support are intended to accelerate Origis Energy’s growth as an independent power producer and advance its growing portfolio of solar and battery energy storage assets to serve an unprecedented growing demand for electricity. Origis boasts a roughly 1 gigawatt (GW) project portfolio across four states. The company has an additional 3 GW of in-construction or construction-ready projects and has 25 GW more planned.
“We are excited to welcome Brookfield as a new significant investor and are grateful for Antin’s continued leadership,” said Vikas Anand, CEO of Origis Energy. “With two of the world’s most well-respected renewable power infrastructure investors as our partners, we will accelerate our mission and strategy to provide cost-effective, carbon-free electricity to customers across the United States.”
Brookfield is making this investment through its Infrastructure Structured Solutions strategy alongside affiliated entities. Origis Energy was advised by PJT Partners, J.P. Morgan, and Santander with Latham & Watkins serving as legal advisors. Vinson & Elkins served as Brookfield’s legal advisor.
Canada’s Brookfield Asset Management is one of the biggest fish in the finance space. In May 2024, Microsoft inked two 15-year PPAs with developer RWE and came to terms with Brookfield on the largest single corporate PPA ever, agreeing to develop more than 10.5 GW of new renewable energy capacity. In 2023, Brookfield Renewable announced it would buy Duke Energy’s utility-scale renewable energy business for $2.8 billion.
Origis Energy’s rapid growth
Origis Energy has enjoyed a particularly busy few months and a furious start to 2025. Last week, the company announced the close of financing for the Swift Air Solar project in Ector County, Texas. The $415 million funding package includes construction, term debt, and tax equity financing from Natixis Corporate & Investment Banking and Advantage Capital. Currently under construction, Swift Air Solar will enter commercial production around the middle of this year. The project will be utilized by Houston-based Occidental (Oxy) and its subsidiary, 1PointFive, to provide zero-emission solar power for the Direct Air Capture (DAC) facility, STRATOS, currently under construction 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 Origis Energy’s CEO Anand.
A few days prior to the closing, the Florida Municipal Power Agency, in conjunction with participating Florida municipal electric utilities and Origis Energy, announced the completion of Rice Creek Solar Energy Center, which is supplying nearly 75 MWac of carbon-free electricity to 12 Florida cities. Rice Creek Solar is the third solar site in the Florida Municipal Solar Project, one of the largest municipal-backed solar projects ever devised in the United States. Located in Putnam County, near Palatka, it consists of 213,000 solar panels that generate enough power for approximately 14,000 homes. It was built and is owned and operated by Origis.
Just before the new year, Origis Energy unveiled a $533 million construction financing facility, bridge loan facility, and conversion to term loan with leading global financial group MUFG to support 350 MWac in solar capacity and 50 MW of energy storage. That deal brought the parties’ joint U.S. renewable energy infrastructure financing to over $1 billion in a 12 month span.
In October 2024, Origis secured a tax equity commitment from J.P. Morgan for the Golden Triangle I Solar + Storage project in Lowndes County, Mississippi. The agreement funds the completion of Golden Triangle I, a 200 MWac solar project with 50 MW of battery storage with a Power Purchase Agreement with the Tennessee Valley Authority (TVA) to deliver clean energy and grid resiliency at competitive rates.
In September 2024, Origis and TVA agreed to expand their power purchase agreement and build more solar and storage in Mississippi. Origis plans to develop, construct, and operate Hope Solar + Storage, a 200 MWac Solar + 200 MW/800 MWh storage facility in Clay County and sell the power to TVA to help fuel some of the fastest growth in the nation – both in terms of population and economic development. Hope is slated for commercial operation at the end of 2028. The first of the three initially planned solar + storage projects in the Origis-TVA Mississippi portfolio reached commercial operation in May 2024- Golden Triangle II, a 150 MWac solar project with 50 MW battery storage.
