Origis Energy has secured $415 million in financing for the Swift Air Solar project. The project, located in Ector County, will supply clean power to Occidental (Oxy) and its subsidiary, 1PointFive. The funding includes $290 million in construction and term debt from Natixis Corporate & Investment Banking (CIB) and $125 million in tax equity from Advantage Capital.
Swift Air Solar to Power Direct Air Capture Technology
The Swift Air Solar project is set to begin commercial operations in mid-2025. It will provide clean energy to the STRATOS Direct Air Capture (DAC) facility, a large-scale carbon removal plant under construction in the Permian Basin. Origis Energy will oversee construction, ownership and operation.
Vikas Anand, CEO of Origis Energy, said: “This is an exciting project that aligns with our mission to supply decarbonisation solutions. We appreciate the strong support from Natixis CIB and Advantage Capital in making Swift Air Solar a reality.”
Nasir Khan, Managing Director at Natixis CIB, highlighted the significance of this financing. “This investment strengthens our commitment to renewable energy solutions that drive the global transition.”
Strong Financial Backing and Industry Expertise
Natixis CIB led the financing, managing construction and term debt while also handling loan hedging and credit issuance. The firm has now committed nearly $1.8 billion to Origis projects. Advantage Capital contributed $125 million in tax equity, reinforcing its commitment to sustainable energy.
Tom Bitting, Managing Director at Advantage Capital, stated: “The Swift Air Solar project demonstrates what is possible when financial expertise and innovative technology come together.”
Legal advisors played a key role in finalizing the financing. Latham & Watkins represented Origis Energy, while Milbank acted for Natixis CIB. A&O Shearman advised Advantage Capital, with local support from Reed Smith and Husch Blackwell.
Expanding the U.S. Renewable Energy Landscape
Origis Energy continues to expand its renewable portfolio, with 119 projects totalling 11.9GW of solar and 9.2GW of battery storage. Recent financing deals with MUFG and J.P. Morgan highlight its growing impact.
Unlike some of its recent solar-plus-storage projects, Swift Air Solar will operate without co-located batteries, focusing purely on solar generation. The project supports the U.S. clean energy transition by providing sustainable power for industrial carbon capture.
With operations set to begin in 2025, the Swift Air Solar project represents a major step in decarbonization efforts. It reinforces Texas’ role as a leader in large-scale renewable energy development.