The investment fund Excelsior Energy Capital has officially launched the Faraday Solar project in Utah County. With a capacity of 685.3 MWDC / 525 MWAC, this solar plant ranks among the largest in the country and companies such as Meta, which has signed a 20-year power purchase agreement (PPA) to supply its operations. 20-year power purchase agreement (PPA) to supply its local operations.
Faraday Solar’s supply is backed by Rocky Mountain Power’s Schedule 34 program, a tariff designed by PacifiCorp that allows large consumers to make a direct commitment to renewable energy. renewable energy.
Accelerated and strategic execution
Excelsior acquired the project in 2023 from developers Parasol and Clenera, and was able to complete construction in less than two years. The plant, which has more than 1.2 million solar panels distributed over an area similar to that of New York’s Central Park, began commercial operations on September 30, 2025.
The successful completion of this landmark project reaffirms Excelsior’s commitment to helping others achieve their clean energy goals and contribute to a clean and reliable power grid. [Solar energy continues to demonstrate its resilience and strategic importance, and projects like Faraday Solar not only offer attractive returns, but also enhance energy security and independence in a volatile global landscape.
Chris Frantz, partner and director of portfolio operations at Excelsior Energy Capital.
An investment backed by key players
Project financing involved a strong group of financial institutions led by MUFG, Nord/LB and Deutsche Bank, along with other banks such as CIBC, Zions Bank, DNB, Société Générale and National Bank of Canada. In addition, US Bancorp Impact Finance provided tax incentives, while legal support was provided by Akin Gump Strauss Hauer & Feld LLP.
Excelsior also acknowledges the co-investment of entities such as the Japan Development Bank and Industriens Pension, consolidating a network of international alliances.
Celebration with the community
On the occasion of its entry into operation, Excelsior will host a groundbreaking ceremony on November 5 in Utah County, where partners, investors and community members will participate. The event seeks to highlight the regional and environmental value of the Faraday Solar project, which is already emerging as a model for future large-scale energy developments.
Source: Excelsior Energy Capital
