Green & Clean Power (GCP) has secured $300 million in financing to construct a solar energy generation and battery storage facility in Osceola, Arkansas. The project, spanning 500 acres, is slated for completion in autumn 2025.

The funding comprises $165 million in construction debt from KfW IPEX-Bank, with Aurora Energy Research as market advisor, and a $100 million commitment from the Arkansas Teacher Retirement System (ATRS) for takeout financing.

The solar facility will supply 40% of the renewable energy needs for Hybar, GCP's sister company, which is constructing a sustainable steel rebar mill powered entirely by renewable energy. The mill will begin operations in summer 2025, providing rebar made from 100% recycled materials.

"Unlike other industrial businesses investing in renewable power hundreds of miles away, GCP's installation will directly connect to Hybar," said Ari Levy, CFO of GCP and Hybar.

Equity backers for the project include TPG Rise Climate, Quanta Services, and Global Principal Partners. DEPCOM Power, a renewable sector EPC company, will oversee the project under a lump-sum agreement.

GCP also plans to interconnect with the Midcontinent Independent System Operator (MISO) grid in three years, enabling power sales to third-party customers.