Earthrise Energy Company Profile

Background

Overview

Earthrise Energy is an independent power producer committed to accelerating the clean energy transition by acquiring, developing, and operating power generation facilities that meet the evolving demands of customers and support the decarbonization of the grid. Founded in 2019 and headquartered in Arlington, Virginia, the company focuses on integrating renewable energy solutions with existing infrastructure to deliver reliable and sustainable electricity.

Mission and Vision

Earthrise Energy's mission is to reduce power sector greenhouse gas emissions faster than ever before. The company envisions a future where clean energy is reliable and resilient, aiming to advance the deployment and integration of renewable energy while revitalizing local communities.

Primary Area of Focus

The company's primary focus is on repurposing existing thermal power plants by integrating co-located solar energy projects. This strategy leverages existing interconnection rights and infrastructure, enabling faster deployment of renewable energy and enhancing grid reliability.

Industry Significance

Earthrise Energy plays a pivotal role in the renewable energy sector by bridging the gap between traditional power generation and sustainable energy solutions. Its innovative approach to utilizing existing infrastructure for renewable energy projects sets a precedent for efficient and scalable clean energy deployment.

Key Strategic Focus

Core Objectives

Accelerate Renewable Integration: Expedite the transition to a cleaner energy grid by integrating renewable energy sources with existing power generation facilities.

Enhance Grid Reliability: Utilize flexible natural gas peaking plants to provide reliable capacity, supporting grid stability during peak demand periods.

Community Engagement: Invest in local communities through grants, scholarships, and support for local programs, fostering strong community relationships.

Specific Areas of Specialization

Co-Located Solar Projects: Developing solar energy projects adjacent to existing thermal power plants to leverage existing infrastructure and interconnection rights.

Flexible Natural Gas Peaking Plants: Operating natural gas peaking plants that provide reliable capacity to support grid stability during peak demand periods.

Key Technologies Utilized

Solar Photovoltaic (PV) Systems: Deploying advanced solar PV technology to harness renewable energy efficiently.

Energy Storage Solutions: Integrating energy storage systems to manage intermittent renewable energy generation and ensure a stable power supply.

Primary Markets Targeted

Midcontinent Independent System Operator (MISO) Region: Focusing on the MISO power market, particularly in Illinois, to develop and operate renewable energy projects.

PJM Interconnection Region: Engaging in the PJM Interconnection region to support grid reliability and integrate renewable energy sources.

Financials and Funding

Total Funds Raised

Earthrise Energy has secured significant funding to support its renewable energy initiatives, including a $630 million financing package for the Gibson City Solar project and a $360 million financing package to refinance existing thermal portfolio debt and support the development of co-located solar projects.

Recent Funding Rounds

June 2025: Closed a $630 million tax equity and debt financing for the 270 MWac Gibson City Solar project in Illinois, expected to achieve commercial operations in 2026.

December 2025: Secured a $360 million financing package to refinance existing thermal portfolio debt and support the development of co-located solar projects, including Gibson City Solar and four additional projects planned to start construction in 2026.

Notable Investors

While specific investor names are not publicly disclosed, the financing rounds involved coordination with major financial institutions and a Fortune 500 telecommunications company providing tax equity commitments.

Utilization of Capital

The capital raised is allocated towards:

Project Development: Funding the construction and operationalization of renewable energy projects, including the Gibson City Solar project and additional co-located solar projects.

Debt Refinancing: Refinancing existing thermal portfolio debt to optimize financial structure and support ongoing operations.

Pipeline Development

Key Pipeline Candidates

Gibson City Solar Project: A 270 MWac solar facility in Illinois, currently under construction and expected to achieve commercial operations in 2026.

Additional Co-Located Solar Projects: Four projects planned to commence construction in 2026, contributing to the company's goal of adding over 1.7 GW of renewable electricity to the grid.

Stages of Development

Gibson City Solar Project: Under construction, with commercial operations expected in 2026.

Additional Projects: Planning and permitting stages, with construction slated to begin in 2026.

Target Conditions

The projects aim to provide clean, reliable, and cost-effective energy to the grid, supporting the decarbonization of the power sector and enhancing grid reliability.

Anticipated Milestones

2026: Completion of the Gibson City Solar project and commencement of construction for additional co-located solar projects.

Technological Platform and Innovation

Proprietary Technologies

Earthrise Energy leverages existing thermal power plant infrastructure to integrate co-located solar projects, utilizing surplus interconnection capacity to expedite renewable energy deployment.

Significant Scientific Methods

Interconnection Optimization: Employing innovative structuring to utilize surplus interconnection service, enhancing project efficiency and speed to market.

Indexed Renewable Energy Credit (REC) Offtake Contracts: Utilizing state programs like the Illinois Power Agency’s Indexed REC to secure long-term revenue streams for renewable energy projects.

Leadership Team

Key Executives

Jeff Hunter: Chief Executive Officer (CEO)

Professional Background: Extensive experience in the energy sector, focusing on renewable energy development and financial structuring.

Contributions: Led the strategic direction and financial initiatives, including securing significant financing for renewable energy projects.

Kenton Harder: Vice President of Capital Markets

Professional Background: Expertise in capital markets and project financing within the energy industry.

Contributions: Structured innovative financing solutions, such as the utilization of surplus interconnection service for solar projects.

Leadership Changes

No recent significant changes or appointments within the company's leadership have been publicly disclosed.

Competitor Profile

Market Insights and Dynamics

The renewable energy sector is experiencing rapid growth, driven by technological advancements, supportive policies, and increasing demand for clean energy. Companies like Earthrise Energy are well-positioned to capitalize on this trend by integrating renewable energy sources with existing infrastructure.

Competitor Analysis

Key competitors include other independent power producers and renewable energy developers focusing on integrating renewable energy with existing power generation facilities. Specific competitor details are not provided in the available information.

Strategic Collaborations and Partnerships

Significant Collaborations

Financial Institutions: Collaborated with BBVA, Intesa Sanpaolo, and Nord/LB for debt financing, and a Fortune 500 telecommunications company for tax equity commitments.

Advisory Firms: Engaged Marathon Capital as the exclusive financial advisor for project financing.

Operational Insights

Strategic Considerations

Earthrise Energy's strategy of repurposing existing thermal power plants for renewable energy projects provides a competitive advantage by reducing development timelines and capital expenditures. This approach enhances the company's ability to deliver clean energy solutions efficiently.

Strategic Opportunities and Future Directions

Strategic Roadmap

Expansion of Renewable Portfolio: Continue developing co-located solar projects to add over 1.7 GW of renewable electricity to the grid.

Technological Innovation: Explore additional innovative financing structures and integration methods to further expedite renewable energy deployment.

Community Engagement: Strengthen community relations through continued investment in local programs and initiatives.

Future Business Directions

Earthrise Energy aims to expand its footprint in the renewable energy sector by leveraging existing infrastructure, optimizing interconnection rights, and fostering strategic partnerships to accelerate the clean energy transition.