Power Technology

rPlus Energies secures over $650m for Blacks Creek solar facility

The Blacks Creek Energy Centre will supply solar power to Idaho Power’s grid and support Meta’s data centre operations.

rPlus Energies has obtained more than $650m in debt and tax equity financing commitments for the construction of the Blacks Creek Energy Centre, a 400MW-alternating current (MWac)/520MW-direct current (MWdc) solar facility in Ada County, Idaho, US.

The funding package includes debt facilities led by Santander Corporate & Investment Banking and KeyBanc Capital Markets, which will support the project through its construction phase.

Once the Blacks Creek Energy Centre reaches commercial operation, the arrangement will convert to a long-term loan facility.

Santander has also provided a tax equity financing commitment for the project.

The new centre will supply solar electricity to Idaho Power’s grid, contributing power to meet both Meta’s energy requirements for its data centre in Kuna, Idaho and other needs within Idaho Power’s service area.

rPlus Energies president and CEO Luigi Resta said: “This project represents another major milestone for rPlus as we continue to invest in large‑scale, homegrown energy across the American West.

“Santander and KeyBanc are strong partners, and we are pleased to work with them to deliver a project of this scale and importance.”

The Blacks Creek Energy Centre extends rPlus Energies’ activity in Ada County, where the company previously developed Pleasant Valley Solar 1, now operated by different owners.

Pleasant Valley Solar 2 is expected to begin commercial operation in spring 2026.

Collectively, rPlus projects in Ada County, either operating, under construction or contracted, represent nearly 1GW of energy capacity.

Legal counsel for rPlus was provided by Latham & Watkins and Dorsey & Whitney.

Milbank and Parsons Behle & Latimer acted as legal counsel to Santander and KeyBanc Capital Markets regarding both debt and tax equity arrangements.

KeyBanc Capital Markets managing director Bill Chamberlin said: “We are privileged to support the rPlus team on another marquee renewable infrastructure financing. rPlus’ intentional approach to development and community stewardship is evident in the quality of their projects.”