Markets & Policy
Tenders & Auctions
Solar Projects
Large-Scale Projects
Rooftop
C&I
Manufacturing
Modules
Inverters & BOS
Technology
Finance and M&A
Markets & Policy
T&D
Utilities
Smart Grid
Microgrid
Events
Webinars
Interviews
November 9, 2026
Follow Mercom India on WhatsApp for exclusive updates on clean energy news and insights
Panamint Capital, a U.S. energy investment firm, has achieved financial close on $769 million in financing for the 491 MW Big Rooter West solar project in Robertson County, Texas. The financing represents the first phase of a $1.8 billion green loan for Big Rooter Power, a 1.2 GW solar photovoltaic project being developed at the company’s Twin Oaks Power Station and Calvert Mine.
The proceeds will fund the ongoing construction of Big Rooter West, the first stage of the project. Construction began in July of this year, and commercial operations are scheduled for August 2028.
The financing comprises a $240 million senior secured construction-to-term loan, a $461 million tax equity bridge loan, and a $68 million letter of credit facility.
Lloyds, Mitsubishi UFJ Financial Group (MUFG), and Sumitomo Mitsui Banking Corporation (SMBC) are serving as coordinating lead arrangers, green loan coordinators, co-syndication agents, and joint bookrunners for the Big Rooter West and Big Rooter East financings. MUFG is also serving as administrative agent.
Panamint Capital expects to close financing for the 658 MW Big Rooter East project in the first quarter of 2027. The financing is expected to comprise a $336 million construction-to-term loan, a $587 million tax equity bridge loan, and a $91 million letter of credit facility, totaling approximately $1.01 billion.
Big Rooter East is scheduled to begin commercial operations in August 2029.
Big Rooter Power is being developed on reclaimed coal mine land at Panamint Capital’s 10,000-acre Twin Oaks Complex between Dallas and Houston. The site has existing operating interconnection infrastructure and includes power generation, surface mining, energy storage, data center capacity, and high-voltage transmission infrastructure.
Panamint Capital said Big Rooter Power will be the largest brownfield renewable energy project in North America.
White & Case and Jackson Walker served as legal counsel to Panamint Capital. Milbank served as legal counsel to the lenders, while CSC Delaware Trust Company acted as collateral agent.
Panamint Capital is headquartered in Incline Village, Nevada. Global Atlantic Financial Group, a wholly owned subsidiary of KKR, holds a minority ownership stake in the company.
Announced large-scale solar project funding increased by 75% in the first nine months of 2026 compared with the funding raised in the same period in 2025, according to Mercom’s recently released 9M and Q3 2026 Solar Funding and M&A report.
In 2026, Arevon Energy, a U.S. energy developer, owner, and operator, has secured a $120 million tax equity commitment from Wells Fargo Bank for its 124 MW Big Muddy Solar project in Jackson County, Illinois.
Renu
RELATED POSTS
© 2026 by Mercom Capital Group, LLC. All Rights Reserved.
