Over $170 Million Boost for Solar Energy with Monarch and Invenergy

Groundbreaking Solar Financing Agreement Announced

In a significant move toward advancing renewable energy, Monarch Private Capital, a well-known impact investment firm, collaborated with Invenergy, a leader in sustainable energy development, to secure nearly $170 million in tax equity financing for the Samson Solar Energy Center II project. This innovative deal marks a pivotal step in promoting clean energy and economic growth, providing substantial benefits to the community.

Impact on Local Economy

The Samson Solar Energy Center II is designed to be a 200-megawatt (MW) solar facility that is expected to start generating power soon. Upon completion, it will be able to supply electricity to more than 40,000 households. This project is not just about creating clean energy; it also promises to deliver significant economic advantages to the region. With the influx of construction jobs and over $27 million set for local taxes and contributions to the school district, the project underscores the commitment to community enhancement.

Renewable Energy Expansion in Texas

As part of a larger initiative, the Samson Solar Energy Center comprises five phases totaling 1,310 MW, ensuring that this development will be the largest solar energy project in Texas. The collective efforts of this venture will enable energy production sufficient for 300,000 homes, reinforcing Texas's leadership in the renewable energy sector and reflecting a growing trend toward sustainable energy solutions.

Voices from the Investment Community

Commenting on this achievement, Bryan Didier, a Partner and Managing Director at Monarch Private Capital, expressed pride in their partnership with Invenergy. He noted, "This investment is another important milestone for our team and a valuable opportunity to generate skilled jobs while supporting a community in need of economic revitalization."

Confidence in Innovative Financial Solutions

Brian Bortman, Senior Vice President of Finance at Invenergy, highlighted the innovative nature of the tax equity financing for the Samson II project. "This financing represents a crucial milestone for our flagship project," he explained, emphasizing Invenergy's robust financial collaborations that are integral in scaling up clean energy solutions efficiently.

The Role of Marathon Capital

Marathon Capital served as the exclusive financial advisor for this ambitious undertaking. Greg Andiorio, Managing Director of Tax Credit Advisory at Marathon, remarked on the importance of securing the necessary tax equity investment as a transformative step for the broader Samson Solar Energy Center initiative. The collaborative effort between Monarch, Invenergy, and Marathon demonstrates a powerful alliance aimed at advancing clean energy.

About Monarch Private Capital

Monarch Private Capital stands out in the investment landscape by managing funds that focus on impactful projects in clean energy, affordable housing, and historic rehabilitation. Their investments emphasize generating returns through federal and state tax credits while nurturing long-lasting partnerships with investors and developers across the nation. Headquartered in Atlanta, Monarch accesses resources and talent to fulfill its mission of driving positive community impacts.

About Invenergy

Invenergy is dedicated to fostering a cleaner energy future and has established a strong presence in the global energy market. Their portfolio boasts developments in renewable energy across multiple continents, underlining their expertise in building, owning, and operating large-scale energy generation and storage facilities. With over 31,000 MW of projects either operational or under development, Invenergy is a potent force in the clean energy sector.

Frequently Asked Questions

What is the purpose of the tax equity financing by Monarch and Invenergy?

The financing aims to support the development of the Samson Solar Energy Center II, facilitating the generation of clean energy and creating economic opportunities in the community.

How much energy will the Samson Solar Energy Center II generate?

The facility is designed to produce 200 MW of clean electricity, enough to power over 40,000 homes upon its completion.

What economic benefits will the project provide to the local area?

The project is expected to create numerous construction jobs and generate more than $27 million in local taxes and payments to the community during its operational life.

Who are the key partners involved in this financing deal?

The primary partners in this agreement are Monarch Private Capital and Invenergy, with Marathon Capital providing financial advisory services.

How does this project contribute to Texas's renewable energy goals?

As part of the larger Samson Solar Energy Center, this project significantly contributes to Texas's transition to renewable energy, solidifying its status as a leader in solar power generation.

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