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Birch Creek Energy Announces Completion of Earp Solar Project
Slice of Energy Team
July 02, 2024
Key Highlights:
Birch Creek completes 47MW Earp Solar project in Illinois.
Earp Solar powers over 7,300 homes with clean electricity.
Tax equity investment from Foss & Co., debt from West Town Bank & Trust.
First project in Birch Creek's independent power producer entity.
Source (PR Newswire)
Notable Quotes:
"Bringing Earp Solar to completion is a transformational event for 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 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."
"We would like to sincerely thank all of our partners for supporting the financing of our first IPP asset. 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."
Our Take:
The successful completion of the Earp Solar project signifies a major achievement for Birch Creek Energy, demonstrating their capability to deliver large-scale renewable energy solutions. This milestone not only underscores the effectiveness of their IPP strategy but also showcases strong partnerships with financial entities like Foss & Company, Pathward, and West Town Bank & Trust. The project's capacity to power over 7,300 homes highlights the significant impact of renewable energy investments in promoting sustainability and energy independence. Birch Creek's ongoing projects are poised to further contribute to the renewable energy landscape, reinforcing their position as a leading player in the industry.