Adapture Renewables, Inc., a utility-scale solar and energy storage developer, has secured $321 million in financing from Mitsubishi UFJ Financial Group (MUFG) to support its Titanium portfolio, a 441MW solar project spanning three sites in Arkansas and Illinois.

MUFG, a leader in renewable energy finance, acted as the lead arranger and administrative agent for the transaction. This marks Adapture Renewables’ first financing partnership with MUFG, further establishing its credibility in capital markets.

“This financing marks a pivotal moment for Adapture Renewables,” said Thomas Houghton, Founder and CEO. “Securing capital from a globally recognized financial institution like MUFG demonstrates the strength of our project portfolio and our ability to scale.”

The financing includes a construction loan and a tax credit bridge loan, leveraging the Inflation Reduction Act’s Investment Tax Credit (ITC) transferability provisions. The first project site broke ground in late 2023, with full commercial operation expected by early 2026. The Titanium portfolio will generate clean energy for over 71,000 homes annually.

“These projects will play a significant role in delivering clean energy while driving economic opportunities,” added Ben Schneider, Managing Director of Project Finance at Adapture Renewables.

The projects are located in Department of Energy-designated Energy Communities, providing long-term economic benefits to the regions. This financing follows Adapture Renewables’ agreements with Meta to supply clean energy.

By advancing its largest project to date, Adapture Renewables continues to expand its role in the clean energy transition while strengthening its renewable energy development pipeline.