In a notable development within the renewable energy sector, Origis Energy, based in Miami, Florida, has announced a significant new investment from Brookfield Asset Management, along with additional commitments from existing partner Antin Infrastructure Partners. This strategic financial support could amount to over $1 billion, aimed at bolstering Origis Energy’s growth as an independent power producer and expanding its extensive portfolio of solar and battery energy storage projects to meet the escalating demand for electricity.
Vikas Anand, the CEO of Origis Energy, expressed enthusiasm about the partnership, stating, “We are excited to welcome Brookfield as a new significant investor and are grateful for Antin’s continued leadership.” With such respected investors backing them, Origis aims to accelerate its mission to deliver cost-effective, carbon-free electricity throughout the United States. The company currently manages a project portfolio of approximately 1 gigawatt (GW) across four states, with plans for an additional 3 GW of projects in construction or ready to commence.
Brookfield’s investment comes through its Infrastructure Structured Solutions strategy, and the financial advisory roles were filled by PJT Partners, J.P. Morgan, and Santander, with legal guidance from Latham & Watkins and Vinson & Elkins. Brookfield Asset Management is recognized as a leading entity in the finance industry, recently making headlines by signing significant power purchase agreements (PPAs) with major companies like Microsoft, further solidifying its position in renewable energy investments.
Origis Energy has been exceptionally active in recent months, particularly with the financing of the Swift Air Solar project in Texas, which has garnered a $415 million funding package. This project will support a zero-emission solar power initiative for the Direct Air Capture (DAC) facility being built in the Permian Basin by Occidental’s subsidiary, 1PointFive. Anand highlighted the importance of this project by stating, “This is an exciting project, helping to power the world’s first large-scale direct air capture plant.”
Moreover, Origis Energy has recently completed the Rice Creek Solar Energy Center, providing nearly 75 MWac of carbon-free electricity to 12 Florida cities. This project is part of the Florida Municipal Solar Project, one of the largest municipal solar initiatives in the United States. With ongoing developments, including a $533 million financing facility and new agreements with the Tennessee Valley Authority, Origis is poised for substantial growth in the renewable energy landscape.
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