Origis Energy Secures $118M Tax Equity Financing for California Solar + Storage Project
Event summary
- Origis Energy closed $118M in tax equity financing from RBC Community Investments for the Chalan Solar + Storage project in Kern County, California.
- The 65 MWac solar and 25 MW / 100 MWh battery energy storage facility is expected to achieve commercial operation in Q4 2026.
- The project's output is contracted under a 20-year power purchase agreement with Pioneer Community Energy.
- As of April 2026, RBC Community Investments has raised over $22.3 billion in equity with 121 institutional investors.
The big picture
This transaction highlights the growing role of tax equity financing in scaling renewable energy projects, particularly those integrating storage. The deal underscores the strategic importance of partnerships between developers and financial institutions in advancing the clean energy transition. With RBC Community Investments having raised over $22.3 billion in equity, the financing landscape for such projects appears robust.
What we're watching
- Execution Risk
- Whether Origis Energy can deliver the Chalan project on time and within budget, given the complexity of integrating solar and storage.
- Market Dynamics
- How the pace of similar tax equity financings will affect the broader renewable energy project pipeline.
- Strategic Partnerships
- The likelihood of Origis Energy and RBC Community Investments collaborating on future projects, given their stated excitement about the partnership.
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