Earthrise Energy Secures $360 Million Financing Package to Support Growth of Solar Power Portfolio
Brings Earthrise’s Debt Capital Raised to Over $1 Billion Year to Date Following Successful Close of
$630 Million Financing for MISO-Based Gibson City Solar and Other Corporate Financing Activity
Earthrise Expects to Add More than 1.7 GWs of Solar Electricity to the Grid Through
Robust Development Pipeline
ILLINOIS – November 26, 2025 – Earthrise Energy (“Earthrise” or the “Company”), an independent power producer, today announced the successful closing of a $360 million financing package to refinance its existing thermal portfolio debt and support the continued development of Earthrise’s co-located solar project portfolio. Earthrise’s co-located solar portfolio is expected to add more than 1.7 GW of renewable electricity to the grid through projects including Gibson City, a 270 MWac solar project under construction and expected to achieve commercial operations in 2026, and four other projects expected to commence construction in 2026.
Santander and MUFG served as Lead Left Arranger and Lead Right Arranger, respectively of the $360 million financing package, which is comprised of a $300 million Term Loan B, a $30 million letter-of-credit facility and a $30 million revolving credit facility. Earthrise’s natural gas peaking fleet, which serves as collateral for the transaction, provides dependable capacity needed as the PJM and MISO markets face significant load growth from domestic onshoring and data center demand.
“We are pleased to complete this important financing, which we believe not only reflects the critical role our assets play in delivering reliable and resilient energy, but also the market’s confidence in our holistic approach to the energy transition,” said Jeff Hunter, Chief Executive Officer of Earthrise Energy. “This transaction marks another milestone for Earthrise following the closing of financing for, and ribbon cutting ceremony at, Gibson City Solar earlier this year. We look forward to leveraging this capital to help us achieve our mission of powering our communities responsibly, sustainably, and equitably.”
About Earthrise Energy
Earthrise Energy, PBLLC, is an independent power producer with a mission to reduce power sector greenhouse gas emissions faster than ever before. The company acquires, owns, and operates legacy fossil fuel assets and repurposes the transmission infrastructure for renewable energy development projects, bringing them online faster than typical greenfield renewable energy projects. Earthrise has 1.7 GW of gas-fired generation capacity and has a solar development pipeline of more than 1.7 GW. For more information about Earthrise Energy, visit: https://earthriseenergy.com/
Contacts
earthriseenergy@gasthalter.com