Origis Energy has secured $415 million in funding for its Swift Air Solar project, which will supply clean energy to the STRATOS Direct Air Capture (DAC) facility in Ector County, Texas. The DAC plant, developed by Occidental and its subsidiary 1PointFive, is the largest of its kind and aims to capture 500,000 tonnes of COâ‚‚ annually. Operations for both projects are slated to begin by mid-2025.

The financing includes $290 million in construction and term debt from Natixis Corporate & Investment Banking (CIB) and Advantage Capital, alongside $125 million in tax equity funding. This collaboration underscores the role of strategic partnerships in advancing renewable energy.

DAC technology removes COâ‚‚ directly from the atmosphere, making renewable energy a crucial component of its environmental impact. The STRATOS facility will store captured carbon in saline formations and generate carbon removal credits for businesses, contributing to global decarbonization efforts.

By integrating solar power with DAC, Origis Energy and its partners aim to minimize emissions while reducing costs associated with renewable energy curtailment.