Can large-scale solar projects do more than just feed the grid? In West Texas, the answer is shaping up to be a confident yes. As energy demand rises from industrial decarbonization projects, solar financing is increasingly tied to long-term, real-world use cases. Origis Energy’s latest funding round shows how clean power, smart structuring, and strong offtake agreements are coming together at scale.

Origis Energy has secured $290 million from Natixis and Santander to finance the construction and operation of the Swift Air solar II and III projects. This blog breaks down why the deal matters, how it is structured, and what it signals for utility-scale solar in the US.

The financing package includes senior secured debt facilities, construction debt, term debt, and a tax credit bridge loan, reflecting a carefully layered approach to risk and returns. Natixis CIB acted as green loan coordinator and administrative agent, reinforcing the sustainability credentials of the transaction. Santander Corporate & Investment Banking played multiple roles, including coordinating lead arranger, bookrunner, hedging bank, and LC issuer, ensuring seamless execution across the capital stack. This follows Origis Energy’s $415 million financing for Swift Air solar I secured in January 2025, highlighting consistent lender confidence across the broader project portfolio.

Swift Air solar II and III are located in Ector County, Texas, and together deliver 313 MWdc of capacity. These assets represent the first phase of a planned 600 MW solar complex in West Texas, a region known for strong solar resources and energy infrastructure. The projects are scheduled to reach commercial production in the fourth quarter of 2025. Notably, the power generated will support the STRATOS Direct Air Capture facility under construction in the Permian Basin, linking renewable energy directly to carbon removal at an industrial scale.

Power from the two projects will be sold under 15-year power purchase agreements to Occidental Power and its subsidiary OLCV Stratos Development. Energy and renewable energy credits will be supplied to Houston-based Occidental Power, building on an existing relationship that includes the 184 MW Swift Air solar I project, which entered commercial operation in early 2025. This kind of long-term offtake structure provides predictable revenue while supporting corporate decarbonization goals through tangible infrastructure.

In conclusion, Origis Energy’s $290 million financing underscores how utility-scale solar is evolving beyond standalone generation into a backbone for clean industrial growth.

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