rPlus Energies Secures Over $500 Million in Financing for Green River Energy Center
Deal News | Jun 05, 2025 | Sandbrook Capital
rPlus Energies has announced the successful closure of a tax equity financing deal worth over $500 million with RBC Community Investments and other investors to support the Green River Energy Center project in Emery County, Utah. The project includes 400 MW of solar PV and 400 MW / 1,600 MWh of battery storage. It is expected to generate $55 million in economic benefits over 20 years and has created construction jobs in the region. This investment leverages the federal Investment Tax Credit and aligns with Emery County's legacy as an energy-producing region. RBC Community Investments partnered in the financing due to the project's economic and energy benefits. Legal advisors for the transaction included Norton Rose Fulbright, CCA, and Dorsey & Whitney for rPlus Energies, and Sidley Austin and Snell & Wilmer for RBC. The project expects completion in 2026, and stakeholders including Utah State University contributed $375,000 toward local workforce development scholarships.
Sectors
- Renewable Energy
- Financial Services
Geography
- United States – The Green River Energy Center is located in Emery County, Utah, and the article discusses its impact on the U.S. renewable energy market.
- Utah – Specific focus on Emery County, Utah, where the significant energy project is located and its economic impact is observed.
Industry
- Renewable Energy – The article discusses a substantial investment in a solar-plus-storage project, a key component of the renewable energy sector.
- Financial Services – The involvement of tax equity financing and investment syndication highlights the role of financial services in supporting energy projects.
Financials
- $500 million – Tax equity financing commitment secured for the Green River Energy Center project.
- $1 billion – Previously secured construction debt financing for the Green River Energy Center.
- $55 million – Total expected direct economic benefits for Emery County over the next 20 years.
- $375,000 – Contribution to local workforce development scholarships in partnership with Utah State University Eastern.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| rPlus Energies | Target Company | Company | A renewable energy firm developing the Green River Energy Center, specializing in solar and storage projects. |
| Sandbrook Capital | Private Equity Firm | Company | The private equity firm backing rPlus Energies. |
| RBC Community Investments | Bidding Company | Company | A syndicator providing tax equity financing and helping drive renewable energy projects. |
| PacifiCorp | Power Purchase Agreement Partner | Company | A utility company involved in the long-term power purchase agreement for the project. |
| Norton Rose Fulbright | Legal Advisor for rPlus Energies | Company | A law firm advising rPlus Energies on the financing deal. |
| CCA | Legal Advisor for rPlus Energies | Company | A legal adviser for rPlus Energies involved in the transaction. |
| Dorsey & Whitney | Legal Advisor for rPlus Energies | Company | A legal adviser for rPlus Energies involved in the transaction. |
| Sidley Austin | Legal Advisor for RBC | Company | Provided legal advice to RBC and the tax equity syndicate. |
| Snell & Wilmer | Legal Advisor for RBC | Company | Provided legal advice to RBC and the tax equity syndicate. |
| Utah State University Eastern | Educational Partner | Company | Partnered with project stakeholders to fund local workforce development scholarships. |
| FJ Management | Co-Investor | Company | A locally based investor involved in the financing syndicate. |