US clean energy developer Invenergy has secured approximately USD 170 million (EUR 153.4 million) in tax equity financing for its 200-MW Samson Solar Energy Center II project, located in Lamar County, Texas.
Monarch and Invenergy Close $170M Tax Equity Deal
Monarch Private Capital, a prominent impact investment firm specializing in tax credit projects and Invenergy, a leading developer of sustainable energy solutions are excited to announce the successful closing of nearly $170 million in tax equity financing for the Samson Solar Energy Center II project in Lamar County, Texas.
Developed by Invenergy, the project is expected to deliver significant economic benefits to the region, including construction jobs, substantial payments to landowners and over $27 million in local taxes and contributions to the county and school district throughout its lifespan.
“The tax equity financing of Samson II marks another significant milestone for our flagship project. This innovative transaction is a testament to Invenergy’s strong financial partnerships and our unmatched capabilities to accelerate clean, reliable energy at scale,” said Brian Bortman, senior vice president of Finance & Capital Markets at Invenergy.
“Securing the tax equity investment for Samson Energy Center II was a significant step towards advancing the broader Samson Solar Energy Center project. It was a pleasure to work with the Invenergy and Monarch teams on this important transaction.” said Greg Andiorio, Managing Director, Tax Credit Advisory at Marathon Capital.
Samson Solar Energy Center II to Power 40,000 Homes
The Samson Solar Energy Center II is a 200-megawatt (MW) solar power facility expected to commence commercial operations later this year. Upon completion, Samson II will generate enough clean electricity to power more than 40,000 homes each year. The financing was completed in collaboration with Monarch Private Capital, an investment firm that served as Invenergy's exclusive financial advisor on the deal.
Samson Solar Energy Center II
The project is a component of Invenergy’s five-phase Samson Solar Energy Center, which is set to be the largest solar energy facility in Texas with a total capacity of 1,310 MW. US utility WEC Energy Group has invested in two of the phases of the Samson Solar Energy Center. In total, the Samson Solar Energy Center will provide enough energy to power 300,000 homes and bolster Texas’s leadership in clean energy.
“We’re proud to have worked with Invenergy on the tax equity solution for the Samson Solar Energy Center II. This investment is another important milestone for our team, and we’re excited to partner with Invenergy on a project that is providing skilled jobs and clean energy to a community that has experienced economic hardship,” said Bryan Didier, Partner & Managing Director of Renewable Energy at Monarch Private Capital.
Partnerships’ Commitments to Sustainable Energy
Monarch Private Capital manages impact investment funds designed to benefit communities by generating clean power, creating jobs and building homes. The company provides innovative tax credit equity investments in areas such as affordable housing, historic rehabilitation, renewable energy and other projects.
With a strong network of institutional and individual investors, developers and lenders, Monarch Private Capital maintains long-term relationships in these federal and state programs.
Invenergy is a company that develops, builds, owns and operates large-scale renewable and clean energy facilities, including generation, transmission and storage across the Americas, Europe and Asia.
To date, Invenergy and its affiliates have successfully developed over 31,000 megawatts of projects that are either operational or under construction. These projects include wind, solar, transmission infrastructure, natural gas power generation and advanced energy storage.
Marathon Capital is the largest independent investment bank focused on the clean economy. Over its 25-year history, the firm has been instrumental in numerous groundbreaking transactions for emerging sectors, consistently achieving outstanding results for its clients.
Marathon Capital is a leading global financial advisor in mergers and acquisitions, equity capital markets, debt capital markets, tax credits, offtake agreements, and energy transition.