SALT LAKE CITY, March 17, 2026 (GLOBE NEWSWIRE) -- rPlus Energies announced today that it has secured over $650 million in debt facilities, along with tax equity financing commitments, for Blacks Creek Energy Center, a 400‑megawatt (MW) ac / 520 MWdc solar facility located in Ada County, Idaho.
The financing package includes a debt financing facility, led by Santander Corporate & Investment Banking and KeyBanc Capital Markets, Inc., to support project construction. Upon reaching commercial operation, the project is expected to transition to a long‑term term loan facility.
In addition, the project is supported by a tax equity financing commitment from Santander, reflecting continued confidence in the project’s long‑term fundamentals and rPlus Energies’ development and execution capabilities.
Blacks Creek Energy Center will deliver solar electricity to Idaho Power’s grid and support Meta’s public commitments related to its Kuna, Idaho data center’s energy use while also serving additional Idaho Power load needs.
“This project represents another major milestone for rPlus as we continue to invest in large‑scale, homegrown energy across the American West,” said Luigi Resta, President and CEO of rPlus Energies. “Santander and KeyBanc are strong partners, and we’re pleased to work with them to deliver a project of this scale and importance.”
“Santander is proud to support rPlus in this strategic financing,” said Nuno Andrade, U.S. Head of Structured Finance and Global Head of Structured Finance Digital Infrastructure and REGAL, Santander Corporate & Investment Banking. “rPlus is an established innovator in solar energy across the American West, funding the local economy through significant tax revenue and landowner payments. By delivering a holistic financing solution that combines traditional tax equity with our leading project finance and advisory practice, Santander is positioned as an end-to-end strategic partner supporting rPlus’ ambitious growth strategy.”
“We are privileged to support the rPlus team on another marquee renewable infrastructure financing,” said Bill Chamberlin, Managing Director at KeyBanc Capital Markets. “rPlus’ intentional approach to development and community stewardship is evident in the quality of their projects.”
Blacks Creek Energy Center builds on rPlus Energies’ expanding presence in Ada County, Idaho, where the company previously developed Pleasant Valley Solar 1, now operating under different ownership, and expects Pleasant Valley Solar 2 to reach commercial operation in spring 2026. Together, these projects represent significant investment in Idaho’s energy infrastructure. In total, rPlus‑developed projects in Ada County that are operating, under construction, or contracted represent nearly 1 GW of energy capacity.
Latham & Watkins and Dorsey & Whitney served as legal counsel to rPlus Energies. Milbank and Parsons Behle & Latimer served as legal counsel to Santander and KeyBanc for both the debt and tax equity financings.
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 $1 million 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.
Contact:
Maile Resta
rPlus Energies
mresta@rplusenergies.com
