rPlus Energies Secures Over $500 Million in Tax Equity Financing with RBC Community Investments for 800 MW Green River Energy Center
Located in rural Utah, the solar-plus-storage project is among the largest under construction in the United States
SALT LAKE CITY, June 05, 2025 (GLOBE NEWSWIRE) -- rPlus Energies announced today the successful close of a tax equity financing commitment exceeding $500 million with RBC Community Investments and a syndicate of investors to support Green River Energy Center, a landmark solar-plus-storage project in Emery County, Utah. The financing will utilize the federal Investment Tax Credit (ITC).
Green River Energy Center includes 400 megawatts AC (MWAC) of solar PV and 400 MWAC/1,600 megawatt-hours (MWh) of battery storage and has a long-term power purchase agreement in place with PacifiCorp.
The project is among the largest solar-plus-storage projects currently under construction in the United States and is expected to generate more than $55 million in direct economic benefits for Emery County over the next 20 years. It has created hundreds of construction jobs.
“Green River Energy Center is an investment in the long-term resilience of a region that has powered the American West for generations,” said Luigi Resta, President and CEO of rPlus Energies. “This project honors Emery County’s legacy as an energy-producing region while helping to secure its future. By utilizing federal tools, such as the investment tax credit, we ensure that rural communities continue to lead our country's energy production and dominance.”
“We are proud to partner with rPlus and provide tax equity financing for this landmark clean energy project. The economic and energy benefits that the Green River Energy Center will bring to the region were key factors in the transaction for RBC and our co-investors, including locally based FJ Management,” said Jonathan Cheng, Managing Director and Head of RBC’s renewable energy tax equity investments and syndications.
This milestone follows the successful close of over $1 billion in construction debt financing for the project announced last year, marking continued momentum.
As further commitment to local impact, several project stakeholders have collectively contributed $375,000 to fund two scholarship programs, the Local First Scholarship and the Energy First Scholarship, in partnership with Utah State University Eastern. These scholarships, which rPlus Energies establishes with each project that enters construction, are strategically designed to support workforce development by retaining local talent, reducing the out-migration of skilled workers, and preparing the next generation for high-demand roles in the evolving energy economy.
Norton Rose Fulbright, CCA, and Dorsey & Whitney advised rPlus Energies, and Sidley Austin and Snell & Wilmer advised RBC on behalf of the tax equity syndicate.
The project is expected to be complete in 2026.
About rPlus Energies
rPlus Energies is a team of committed energy industry professionals working together to develop, own and operate large-scale renewable energy generation and electric storage projects in the United States. The company specializes in bringing projects to market through partnership with the private sector, municipalities, utilities, and industry-leading technology, service and finance providers. Its portfolio consists of a strategic mix of solar, battery, wind, and pumped storage hydro facilities. To date, rPlus Energies has raised over $650,000 to support local scholarships in the project communities. rPlus Energies is headquartered in Salt Lake City, Utah and is backed by Sandbrook Capital and Gardner Group.
About RBC Community Investments
www.rbccm.com/communityinvestments
RBC Community Investments is a leading syndicator of Renewable Energy Tax Credits, Low Income Housing Tax Credits, Workforce Housing Investments, Historic Tax Credits, and State Tax Credits. By creating well-structured investments, our team of experienced professionals deliver equity solutions that help drive the successful development of affordable multifamily communities and renewable energy projects nationwide. As of May 2025, our team of over 137 professionals has raised over $20.4 billion in equity with 98 institutional investors.
rPlus Energies Media Contact
Brad Carl
Silverline
brad@teamsilverline.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/86512011-0136-4093-97dc-97362875d75d.
Green River Energy Center
Rendering of the Green River Energy Center
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
