Crux closes $215 million tax equity deal for Invenergy Ohio solar project

Crux announced a $215 million tax equity investment supporting Invenergy’s 240-megawatt Pleasant Prairie Solar Energy Center in Franklin County, Ohio. The financing backs a project expected to create about 300 construction jobs, begin operations in 2027 and deliver more than $230 million in local economic investment over its life.

Why it matters: - The deal helps finance one of Ohio’s new utility-scale solar projects at a time when demand for electricity and clean energy buildout is rising. - The investment supports a project expected to add generation to the local grid, create construction jobs and drive long-term economic activity in Franklin County. - The structure shows how tax equity is still central to financing large clean energy infrastructure.

What happened: - Crux announced the close of a $215 million tax equity investment for the Pleasant Prairie Solar Energy Center. - The project is a 240-megawatt solar facility in Franklin County, Ohio. - Invenergy developed and owns the project. - The project is currently under construction. - Commercial operations are expected to begin in 2027.

The details: - The Pleasant Prairie Solar Energy Center is expected to support about 300 construction jobs. - The project is expected to deliver more than $230 million in local economic investment over its life. - A third-party offtaker will receive the clean energy credits tied to the new generation capacity. - Crux Capital Securities, Crux’s registered broker-dealer, underwrote and structured the investment. - The financing was made through a Crux-managed vehicle. - The hybrid tax equity structure is designed to monetize federal investment tax credits efficiently. - The financing also supports deployment of new utility-scale solar generation. - Crux said it has facilitated billions of dollars of private capital into American clean and critical infrastructure since its founding. - Crux said it supports developers, manufacturers and investors through advisory services, underwriting, transaction execution and fund management. - Crux’s platform combines data intelligence, capital products and energy finance expertise. - Invenergy described the investment as an important milestone for Pleasant Prairie Solar. - Invenergy said the financing reflects confidence in projects that can meet growing energy demand while delivering local benefits. - Crux said the transaction reflects its role in helping developers access efficient financing.

Between the lines: - The transaction fits a broader shift toward integrated capital stacks that pair tax equity with transferable tax credits, debt and other financing tools. - That trend is meant to improve project economics and speed up new power development. - The deal also reinforces the appeal of utility-scale solar for investors seeking both tax benefits and infrastructure exposure.

What's next: - Construction will continue at the Pleasant Prairie Solar Energy Center. - The project is expected to reach commercial operation in 2027. - The project’s electricity will flow to the local grid once the facility comes online. - Crux and Invenergy are likely to keep working together on future financing activity, given their long relationship and the companies’ comments on the deal.

The bottom line: - Crux used tax equity to unlock major financing for a large Ohio solar project, helping move new clean power capacity closer to the grid.