New company features a behind-the-meter 105MW solar installation and a 160mwh battery energy storage system to initially power neighboring Hybar, a scrap metal recycling steel rebar mill
, /PRNewswire/ — Newly formed Green & Clean Power LLC (GCP) announced today that it successfully raised approximately $300 million of debt and equity financing to build and operate a solar energy generation and battery storage facility on nearly 500 acres of property in Osceola, Arkansas. KfW IPEX-Bank provided approximately $165 million in construction debt financing with Aurora Energy Research serving as its Market Advisor. The Arkansas Teacher Retirement System (ATRS) provided an additional $100 million in a takeout financing commitment. GCP’s facility is already under construction with completion expected by fall of 2025.
“The sustainable production and recycling of steel plays a key role in global decarbonization,” stated Dr. Velibor Marjanovic, Member of the Management Board of KfW IPEX-Bank. “After providing financing for the Hybar rebar mill in …