Utility Scale Solar Projects

Energea began construction on the Iron Spur Solar project in Snyder, Texas. It's a 140MW utility-scale facility expected to generate about 317GWh of electricity annually once operational in early 2029. Energea is providing up to $5 million in secured financing, marking its first industrial-scale US solar investment.

The financing structure provides monthly cash interest during construction, includes a first-priority security interest in the project’s equity and offers an option to convert to majority ownership at key milestones. Iron Spur has an exclusivity agreement with an investment-grade corporate energy buyer for a long-term power purchase agreement.

Energea shows how convertible loan structures can give renewable energy investors immediate income during construction while maintaining a path to full project ownership as the asset matures.