energyRe, a solar, wind, and energy storage project developer, has secured $815 million in financing for five utility-scale solar projects totaling approximately 360 MW in South Carolina, U.S.

Bank of America, Canadian Imperial Bank of Commerce, and Santander supported the financing. Bank of America served as the documentation agent, while Santander acted as energyRe’s financial advisor.

The five projects are backed by 25-year power purchase agreements. According to energyRe, the projects are expected to generate tens of millions of dollars in revenue for local governments.

“This portfolio financing is our largest to date, and it reflects the confidence our lenders have in both the quality of our assets and our team’s ability to deliver,” said Pedro Pereira, Chief Financial Officer at energyRe. “South Carolina is at the center of our growth strategy, and this closing moves us meaningfully closer to our goal of investing $2 billion in the state by 2030. These projects will create jobs during construction and operations and deliver affordable, reliable power to South Carolina homes and businesses for decades to come.”

The financing supports energyRe’s target of investing $2 billion in South Carolina by 2030. energyRe’s mergers and acquisitions and capital markets team, led by Surya Mohan, structured and executed the transaction alongside Santander and its lending and tax equity partners.

Over the past year, energyRe has broken ground on approximately 450 MW of projects and has nearly 700 MW of capacity in operation or advanced stages of development. The company’s solar portfolio exceeds 1.8 GW across 20 projects in South Carolina, North Carolina, Nebraska, and Oklahoma.

In 2024, the company secured $155 million in project financing and an $85 million tax equity commitment for a 108 MW Lone Star solar project and a 198 MWh energy storage project in South Carolina. energyRe had raised a $1.2 billion capital package in 2023 to support the expansion of its large-scale renewable energy portfolio comprising utility-scale transmission and storage, onshore wind and solar generation, and offshore wind.

Announced large-scale solar project funding increased by 71% in the first half of 2026 compared with the funding raised in the same period in 2025, according to Mercom’s recently released 1H and Q2 2026 Solar Funding and M&A report.