• Major Renewable Energy Boost: $415M financing package secured for Swift Air Solar project in Ector County, Texas.
• Strategic Partnerships: Natixis CIB leads $290M debt financing; Advantage Capital contributes $125M in tax equity.
• Innovative Climate Solution: Project to power the world’s first large-scale direct air capture (DAC) plant, STRATOS.

Origis Energy, a leader in renewable energy and decarbonization, has closed a $415 million financing deal for its Swift Air Solar project in Ector County, Texas. The package includes construction, term debt, and tax equity financing.

Funding Breakdown:

• Natixis Corporate & Investment Banking (CIB): $290M for construction and term debt.
  • Roles: Sole coordinating lead arranger, hedging bank, LC issuer, green loan coordinator, and administrative agent.
• Advantage Capital: $125M in tax equity.

“This is an exciting project, helping to power the world’s first large-scale direct air capture plant. This directly aligns with our mission to supply decarbonization solutions,” said Vikas Anand, CEO of Origis Energy.

Project Timeline and Purpose The Swift Air Solar facility is under construction and scheduled to begin commercial production in mid-2025. It will supply zero-emission solar power to Occidental’s STRATOS DAC facility in the Permian Basin.

Related Article: Origis Energy Secures $344M in Financing for Pioneering Solar and Storage Project

Key Partnerships:

This transaction marks the third collaboration between Origis and Natixis CIB. Previous deals include a $750M construction warehouse facility (August 2023) and an expanded $750M development facility (March 2023).

“Natixis CIB is proud to once again partner with Origis Energy on the innovative Swift Air Solar project. This financing reinforces our commitment to renewable energy solutions that drive the global energy transition,” said Nasir Khan, Managing Director, Head of Infrastructure & Energy Finance, Americas.

Industry Collaboration:

Advantage Capital highlighted the importance of collaboration and innovation in renewable projects.

“The Swift Air Solar project showcases what can be achieved when capital, collaboration, and cutting-edge technology come together to drive meaningful impact,” said Tom Bitting, Managing Director at Advantage Capital.

Legal Representation:

• Origis Energy: Represented by Latham & Watkins.
• Lenders: Represented by Milbank (Natixis CIB) and A&O Shearman (Advantage Capital).
• Local Counsel: Reed Smith (Origis), Husch Blackwell (Natixis CIB and Advantage).

Swift Air Solar’s role in supporting the STRATOS DAC facility underscores its strategic importance in the clean energy transition.

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