The Law Office of John Caravella, P.C. does not own this content. This content was created by Ashley Portero, and was published to the South Florida Business Journal on April 17th, 2024. To view the full article, please click here.
Origis Energy closed on a $136 million construction loan with Japan’s Mitsubishi UFG Finance Group (MUFG) for the development of its Rice Creek Solar project in Putnam County, Florida.
The solar panel facility was contracted by the Florida Municipal Power Agency, a power company owned by multiple municipal electric utilities. The FMPA will act as a project coordinator for member owners that purchase power from the Rice Creek Solar facility when it is completed.
“Rice Creek Solar is a perfect example of moving the clean energy transition forward through collaborative municipal programs,” said Origis Energy CEO Vikas Anand, a former General Electric executive who joined the Miami company last month.
The Miami-based firm is the builder, owner and operator of the Rice Creek Solar project.
Founded 15 years ago, Origis Energy builds clean solar and energy storage projects across the world. That includes multiple facilities now operational or under development in the Sunshine State. The business reports it has 260 employees across the U.S.
The company aims to deploy clean power to decarbonize the power grid and cut carbon emissions. Origis reports the Rice Creek Solar facility will power the equivalent of 14,000 homes and prevent 74,000 metric tons of carbon dioxide emissions each year. The project is expected to qualify for tax credits under the Inflation Reduction Act, according to a news release.
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John Caravella, Esq
John Caravella Esq., is a construction attorney and formerly practicing project architect at The Law Office of John Caravella, P.C., representing architects, engineers, contractors, subcontractors, and owners in all phases of contract preparation, litigation, and arbitration across New York and Florida. He also serves as an arbitrator to the American Arbitration Association Construction Industry Panel. Mr. Caravella can be reached by email: [email protected] or (631) 608-1346.
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