rPlus Energies Secures Approximately $100 Million in Tax Equity Financing with Truist Bank for Pleasant Valley Solar 2
The Idaho-Based Project Progresses Toward 2026 Operations as rPlus Energies Surpasses $600 Million in total 2025 Tax Equity Financing Commitments
SALT LAKE CITY, Sept. 08, 2025 (GLOBE NEWSWIRE) -- rPlus Energies announced today the successful close of a tax equity financing commitment of approximately $100 million with Truist Bank to support Pleasant Valley Solar 2, a 125-megawatt (MWac) solar facility in Ada County, Idaho. The project represents an investment of more than $175 million in the state.
Pleasant Valley Solar 2 will be the second rPlus Energies project to deliver solar electricity to Idaho Power’s grid and support Meta’s energy commitments in light of its data center in Kuna, ID.
“We appreciate the strong partnership and shared vision we’ve built with Truist,” said Luigi Resta, President and CEO of rPlus Energies. “Pleasant Valley Solar 2 reflects our broader commitment to helping the U.S. meet rising energy demand, while strengthening local economies and supporting grid reliability.”
“Truist is pleased to continue our efforts to support sustainable infrastructure and clean energy for the country, particularly at a time where demand for energy is increasing at levels not seen for decades,” said Chris Nygren, Head of Tax Equity Investments at Truist Bank. “We are excited to partner with a great renewable energy developer like rPlus Energies on the Pleasant Valley Solar 2 project, which will provide both clean energy and economic development for the communities it supports.”
Construction of Pleasant Valley Solar 2, led by Sundt Construction and managed by rPlus Energies, began earlier this year and is expected to create about 200 jobs, support local businesses, and contribute to the region through a 3.5% solar energy tax on gross earnings.
Norton Rose Fulbright and Dorsey & Whitney LLP advised rPlus Energies, while Akerman LLP and Parsons Behle & Latimer advised Truist Bank.
This milestone brings rPlus Energies’ 2025 tax equity financial commitments to more than $600 million across multiple projects, including over $500 million for its 800 MWac Green River Energy Center, further advancing significant renewable energy development throughout the American West.
About rPlus Energies
rPlus Energies is a team of committed energy industry professionals working together to develop, own and operate large-scale renewable energy generation and electric storage projects in the United States. The company specializes in bringing projects to market through partnership with the private sector, municipalities, utilities, and industry-leading technology, service and finance providers. Its portfolio consists of a strategic mix of solar, battery, wind, and pumped storage hydro facilities. To date, rPlus Energies has raised over $650,000 to support local scholarships in the project communities. rPlus Energies is headquartered in Salt Lake City, Utah and is backed by Sandbrook Capital and Gardner Group.
rPlus Energies Media Contact
Elena Johnston
elena@teamsilverline.com
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