Origis Energy Secures Tax Equity Commitment from J.P. Morgan for Solar + Storage Project
Origis Energy, a provider of renewable energy and decarbonization solutions in the US, announced the securement of a tax equity commitment from JP Morgan for its Golden Triangle I Solar + Storage project.
This commitment includes initial funding from JP Morgan for the project in Lowndes County, Mississippi.
The project will provide 50 megawatts (MW) of battery storage and 200 megawatts of alternative current (MWac) solar energy through a Power Purchase Agreement (PPA) with the Tennessee Valley Authority (TVA).
This agreement and J.P. Morgan's initial finance will help complete the project, improving the region's capacity to produce clean energy and maintain grid resilience.
Vikas Anand, the Chief Executive Officer of Origis Energy said, "The team at Origis Energy is focused on delivering high-quality projects for TVA, and our other customers. Golden Triangle I is an excellent example of that focus, and we appreciate J.P. Morgan's support on it."
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Golden Triangle I, part of Origins projects, is constructing 750 MW of solar electricity and 350 MW of battery storage for TVA in Mississippi.
The Golden Triangle I project is estimated to generate $182 million in construction and employment gains, with an additional $7.2 million predicted to be generated for the local economy over the facility's lifespan.
This tax equity agreement takes advantage of the Investment Tax Credit incentives provided by the Inflation Reduction Act.
