rPlus Energies has locked in more than $650 million in fresh financing for a 400-megawatt solar project in Idaho, marking a major step forward in the state’s push to meet surging electricity demand from tech giants like Meta.

The Salt Lake City-based developer announced Tuesday, March 17, 2026, it has secured debt facilities and tax equity commitments for the Blacks Creek Energy Center, a 520 MWdc (400 MWac) solar facility in Ada County. The financing — led by Santander Corporate & Investment Banking and KeyBanc Capital Markets. The proceed will fund construction, with the debt converting to a long-term loan once the project reaches commercial operation. Santander is also providing the tax equity portion.

The project will deliver clean power directly into Idaho Power’s grid and help fulfill Meta’s sustainability commitments tied to its expanding Kuna, Idaho data center campus. It will also serve general load growth for Idaho Power customers.

“This project represents another major milestone for rPlus as we continue to invest in large-scale, homegrown energy across the American West,” said Luigi Resta, president and CEO of rPlus Energies. “Santander and KeyBanc are strong partners, and we’re pleased to work with them to deliver a project of this scale and importance.”

AI Power Surge: How Meta’s Data Center Boom Is Fueling Idaho Solar

The deal underscores the explosive intersection of artificial intelligence infrastructure and renewable energy. Meta’s Kuna data center — part of the company’s aggressive U.S. expansion — requires vast amounts of reliable, low-carbon electricity. Similar to rPlus’ earlier Pleasant Valley Solar projects that already supply Meta via Idaho Power. Blacks Creek positions the developer as a key player in the region’s clean-energy supply chain.

rPlus acquired the Blacks Creek project from Qcells in November 2025 as part of a larger 900 MW solar-plus-storage portfolio grab in Ada County. With financing now closed, the company is poised to break ground and target operations in 2027–2028. The project joins Pleasant Valley Solar 2 (nearing commercial operation this spring) in pushing rPlus’ total Ada County portfolio close to 1 GW, cementing its status as Idaho’s largest solar and storage developer.

Clean Energy Projects Remain Bankable Despite Higher Interest Rates

Analysts note that federal tax credits and strong utility offtake deals continue to make projects like this highly bankable even in a higher-interest-rate environment. “rPlus’ intentional approach to development and community stewardship is evident in the quality of their projects,” said Bill Chamberlin, managing director at KeyBanc Capital Markets.

Nuno Andrade, U.S. head of structured finance at Santander, added: “By delivering a holistic financing solution… Santander is positioned as an end-to-end strategic partner supporting rPlus’ ambitious growth strategy.”

This project will create significant local economic benefits through construction jobs, long-term landowner payments, and tax revenue — themes rPlus has emphasized across its Idaho developments.

rPlus Energies, backed by Sandbrook Capital and Gardner Group, specializes in utility-scale solar, battery storage, wind, and pumped hydro. The company has already raised more than $1B in various financings in recent years. And maintains an active development pipeline across the American West.

Additionally, with data centers driving unprecedented power demand nationwide, deals like Blacks Creek highlight how private capital is rapidly scaling renewables to keep pace. For Idaho — traditionally a smaller player in solar — the project signals a new era of energy infrastructure growth.

March 17, 2026 marked another strong day for U.S. renewables. While rPlus Energies closed $650 million in financing for its massive Blacks Creek solar farm in Idaho to support Meta’s data center expansion, Sunraycer Renewables officially broke ground on 620 MW of solar-plus-storage capacity in Texas. These parallel advances underscore the rapid scale-up of utility-scale solar and storage across the country as developers race to deliver reliable clean energy for the AI era.

rPlus Energies – Blacks Creek Energy Center Factsheet

• Developer: rPlus Energies LLC (Salt Lake City, UT)
• Location: Ada County, Idaho (near Boise)
• Capacity: 400 MWac / 520 MWdc utility-scale solar
• Today’s Milestone (March 17, 2026): Secured $650+ million in debt facilities + tax equity financing
• Power Delivery: Direct to Idaho Power grid; supports Meta’s Kuna data center and local customers
• Timeline: Financing closed → construction ramp-up now; commercial operations targeted 2027–2028
• Portfolio Impact: Pushes rPlus to nearly 1 GW total solar in Ada County
• Key Benefits: Construction jobs, landowner payments, tax revenue, and clean energy for AI-driven demand

Project Team

• rPlus Energies LLC — Lead developer and owner
• Santander Corporate & Investment Banking — Lead debt financing and tax equity provider
• KeyBanc Capital Markets — Co-lead debt financing
• Idaho Power — Utility off-taker and grid interconnection partner
• Meta — Supported clean-energy customer (via Idaho Power PPA structure for Kuna data center)