The Meta platform has signed an agreement to purchase environmental properties from Sunraycer Renewables in two projects in Texas, with a total capacity of 240 MW alternating alternating (MWAC)/310 MW Definition Conditions (MWDC).
The environmental attribute purchase agreement will help build the first project in Sunraycer's 4GWAC solar and battery facilities portfolio.
The Midpoint Solar Project in Hill County, Texas will contribute 97.5 MWAC to the Texas Electric Reliability Commission (ERCOT) grid.
The Midpoint project is scheduled to begin commercial operations later in the fourth quarter of 2025, marking an important milestone in the state's clean energy development.
The Gaia solar project in Navarro County will add 143MWAC to the Ercot grid, with its operating schedule consistent with the Midpoint solar project.
David Lillefloren, CEO of Sunraycer, said: “This partnership with Meta emphasizes our commitment to delivering high-quality public-scale solar projects that drive the transition to clean energy.
“We are proud to support Ercot’s energy diversification efforts while helping META achieve its ambitious sustainability goals.”
Sunraycer's expansion strategy includes strengthening partnerships with financial institutions, equipment manufacturers and other clean energy stakeholders.
The company’s promotion program provides an innovative approach to working with smaller developers, providing them with flexible capital solutions and comprehensive operational support.
Meta Global Energy Urvi Parekh said: “We are pleased to support Sunraycer’s efforts to bring two solar projects to the Texas grid.
“These projects will support our goals to match our operations with 100% clean and renewable energy.”
Sunraycer also recently received $475 million in project financing facilities, and its total capital has increased its total capital to $675 million since November 2024.
Financing promoted by MUFG Bank, Nomura Securities International and Norddeutsche Landesbank includes construction of loans that expire and tax credit bridge loans, which are made possible by the input tax credit transferability provisions of the Inflation Reduction Act.
“Purchase environmental properties from Sunraycer’s Texas solar project” was originally created and published by global data-owned brand Power Technology.
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