US-based renewable energy developer rPlus Energies has closed a revolving credit facility of up to US$450 million to support the development and construction of its near-term solar and energy storage project pipeline across the American West.
The three-year facility provides funded borrowing capacity and letters of credit. It is supported by cash flows from nearly 1GW of operating assets, including the Green River Energy Centre and Pleasant Valley Solar 2, both of which achieved commercial operation and completed term financing earlier this year.
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“Securing this facility is a meaningful step for rPlus as we continue to scale the business,” said Natalie Jackson, chief financial officer of rPlus Energies. “It reflects the progress our team has made and the confidence our lenders have in our long-term vision. With this capital in place, we’re well positioned to support future growth and deliver on the opportunities ahead.”
Canadian Imperial Bank of Commerce (CIBC), New York Branch, acted as lead left arranger and administrative agent for the facility, which was syndicated to National Bank of Canada, Truist Bank, KeyBank, Wells Fargo, MUFG and Zions Capital Markets.
Kirkland & Ellis served as legal counsel to rPlus Energies, while Milbank represented the lenders.
rPlus, backed by Sandbrook Capital, has a utility-scale solar and energy storage portfolio exceeding 12GW of total power output, with a focus on the American West, particularly Utah and Idaho. The company operates as an independent power producer (IPP), developing projects and retaining long-term ownership.
Its portfolio includes the 400MW Green River Energy Center in Utah, which combines solar generation with 400MW/1,600MWh of battery storage, alongside projects in various stages of development and construction across Utah and Idaho.
Speaking to our sister website Energy-Storage.news in 2024 about the Green River project as it broke ground, rPlus president Luigi Resta discussed the company’s strategy to bring renewable energy and storage projects to rural US communities historically dependent on coal and gas.
Resta said rPlus differentiates its strategy by bringing renewable energy and storage projects to rural US regions that have historically seen limited clean energy development, while supporting communities whose economies have long depended on coal and gas.
The Green River Energy Centre, completed earlier this year, includes 400MW of solar PV and 400MW/1,600MWh of battery energy storage system (BESS). The company describes it as one of Utah’s largest planned solar-plus-storage projects.
In 2024, the company raised over US$1 billion in construction debt financing for the project, led by Crédit Agricole Corporate and Investment Bank, KeyBanc Capital Markets, MUFG Bank, Truist Securities, and Wells Fargo Securities.
The project is backed by a power purchase agreement (PPA) in place with US utility PacifiCorp, which was signed by both parties in October 2022.Groundbreaking and construction mobilisation for the project commenced in April 2025. The project achieved full commercial operation and was officially commissioned on July 21, 2026.
In Idaho, the company has expanded its portfolio through the acquisition of the Blacks Creek and Bluebird solar projects from Qcells and Mission Clean Energy, taking its solar and storage pipeline in the state beyond 1GW.
rPlus Energies signed a long-term PPA with technology giant Meta for the electricity generated at its Pleasant Valley Solar 2 in 2023. The project is in Ada County, Idaho, and in December 2024, the company raised US$179 million in a construction debt facility to support the construction of the plant. Groundbreaking and construction mobilisation for the project commenced in April 2025. The project achieved full commercial operation and was officially commissioned on July 21, 2026.
Alongside its solar and battery storage portfolio, the company is advancing three pumped hydro projects in Wyoming, Nevada and Utah, reflecting its interest in the technology as a long-duration energy storage solution. Resta said rPlus differentiates its strategy by bringing renewable energy and storage projects to rural US regions that have historically seen limited clean energy development, while supporting communities whose economies have long depended on coal and gas.
Speaking about the company’s pumped hydro energy storage (PHES) pipeline with Energy-Storage.news Premium in September 2024, Resta highlighted its ability to provide grid inertia as coal-fired power plants retire, adding that rPlus plans to contract project output through tolling agreements with utilities. He expects the technology’s value to increase as utilities face growing requirements for grid stability and resource adequacy. and regulatory progress.
Speaking eight months into the second Trump presidency at the RE+ trade show in September 2025, he discussed the implications of changing political priorities for the renewable energy industry, including the future of federal clean energy incentives, trade policies and domestic manufacturing.
He said the company’s focus remained on meeting utilities’ long-term energy needs, irrespective of political changes, saying the clean energy industry had to “continue to be aggressive” to maintain its growth momentum.
