Wells Fargo to finance Origis Energy’s FL Solar 5 project

Wells Fargo announced it has committed the capital in construction debt, as well as the tax-equity funding of $35 million for the new solar generation facility, known as FL Solar 5 in Orange County, Florida. This solar facility will include half a million solar panels and will also reduce greenhouse gas emissions by more than 57,000 tons per year. That’s the annual equivalent of removing 9,300 automobiles from the roads.

Origis Energy USA, a Miami-based solar energy company that delivers custom clean energy solutions for utility, commercial, and public-sector clients, developed the solar project and is providing the balance of the project’s capital as well as acting as the solar power plant’s engineering, procurement and construction provider.

Scheduled to be fully operational in December 2018, FL Solar 5 will produce and transmit low-cost, renewable electricity to be purchased by Reedy Creek Improvement District of Orange County, Florida.

For the past 13 years, Wells Fargo has been a significant contributor to the advancement of clean energy in the U.S., with financing and tax equity investments energizing U.S. wind and solar. The bank has funded or committed to fund more than $6 billion in wind and solar projects throughout the U.S. Since 2012, Wells Fargo has invested and financed more than $70 billion in renewable energy, clean technology, “greener” buildings, sustainable agriculture and other environmentally sustainable businesses. In addition, Wells Fargo recently pledged to provide $200 billion in financing to sustainable businesses and projects by 2030, with more than 50 percent focused on clean technology and renewable energy transactions that directly support the transition to a low-carbon economy.