Birch Creek Energy Completes Financing for 49MW Earp Solar

Birch Creek Energy, LLC ("Birch Creek"), a St. Louis based renewable energy company, announced the completion of financing and full operation of Earp Solar, a 47MW utility scale solar project based in Illinois.  Earp Solar represents the first project to become fully financed and operational in Birch Creek's independent power producer entity (the "IPP") and is the first of several which are slated to come on line this year. 

"Bringing Earp Solar to completion is a transformational event for Birch Creek," said Dan Siegel, CEO of Birch Creek. "We announced our IPP strategy mid 2023, and since then have worked aggressively to complete the construction and financing of 6 projects in MISO territory totaling 342MW.  Earp Solar represents the first of these projects and we are grateful to our partners who helped get us here." 

Tax equity was arranged through Foss & Co., permanent debt was provided by West Town Bank & Trust, and construction capital was underwritten and funded by Pathward, N.A.

"Earp Solar exemplifies Foss & Company's commitment to driving positive change in the renewable energy landscape. Our tax equity investment in this exciting project used an inverted lease structure which optimized economics for all involved," stated Bryen Alperin, Partner and Managing Director, Foss & Company. "This marks our second successful deal with Birch Creek and our third deal with their project finance lead. We are thrilled to be a part of the Earp Solar project, and look forward to many future deals with the Birch Creek team."

"We would like to sincerely thank all of our partners for supporting the financing of our first IPP asset," added Max Whitacre, EVP of Project Finance for Birch Creek.  "We are thrilled to have achieved this milestone and look forward to continued financings through these relationships as we build out our IPP this year and beyond."

Earp Solar is a 49MWdc solar project based in Warren County, Illinois.  The project is sited on 229 acres and connects to Ameren Illinois.  Earp Solar generates enough clean electricity to power over 7,300 homes. 

Birch Creek Energy | www.birchcreekenergy.com

Foss & Company | www.fossandco.com

Pathward | https://www.pathward.com/

West Town Bank & Trust | www.westtownbank.com