Birch Creek Energy, a St. Louis-based renewable energy company, has reached a significant milestone with the completion of financing and full operation of its 42MW Altona Solar project in Missouri. This marks the company’s first operational project in its home state, adding to their recent completion of the 49MW Earp Solar project in Illinois. Both projects are part of Birch Creek’s independent power producer (IPP) strategy, with several more projects slated to come online this year.
The successful completion of Altona Solar was made possible through the invaluable support of Birch Creek’s financing partners, Celtic Bank and West Town Bank & Trust. Celtic Bank, who also participated in the financing of the Earp project, provided tax equity for Altona Solar. Meanwhile, West Town Bank & Trust provided permanent debt for the project.
“We cannot thank our financing partners enough for their invaluable support as we complete our first project in our home state of Missouri,” said Max Whitacre, EVP of Project Finance for Birch Creek. “It is such a pleasure working with the Celtic and West Town teams, and we look forward to continued financings with both relationships as we continue to build out our IPP.”
Justin Fuller, SVP of Renewable Energy Finance at Celtic Bank, emphasized the bank’s commitment to supporting renewable energy projects: “Celtic Bank is honored to reinforce our commitment to the renewable energy sector by providing tax equity for Birch Creek’s impactful projects. Our focus on strategic lending and investing in the renewable energy sector aligns perfectly with Birch Creek’s ambitious utility-scale solar and storage projects. We are confident that our continued financial partnership will facilitate the successful realization of these and future projects.”
Riddick Skinner, EVP of Government Lending at West Town Bank & Trust, echoed the sentiment of supporting clean energy infrastructure: “We are proud to support the clean energy infrastructure Birch Creek is developing in the state of Missouri. The success of our industry banks on strong partnerships, and we look forward to continuing to support Birch Creek alongside their partners as they grow through the Altona project.”
Located in Audrain County, Missouri, the Altona Solar project spans 208 acres and connects to Ameren Missouri. With a capacity of 42MWdc, the project is estimated to generate enough clean electricity to power over 6,300 homes, making a significant contribution to the state’s clean energy goals.
Birch Creek Energy, a leading utility-scale solar development platform, is dedicated to developing, financing, and owning utility-scale solar and storage projects across the United States. Since its inception in 2019, the company has developed 1.7 gigawatts (GW) of solar projects and currently holds a portfolio of over 14.2 gigawatts (GW) of utility-scale solar and storage projects in various stages of development and operation. With a team of 56 employees based in St. Louis, Missouri, Birch Creek Energy continues to play a vital role in advancing the renewable energy sector.
Celtic Bank, founded in 2001 and headquartered in Salt Lake City, Utah, is an industrial bank specializing in providing a wide range of financing solutions for businesses. Initially focused on small business lending through the SBA loan program, Celtic Bank has consistently ranked among the top 10 SBA lenders nationwide. Over the years, the bank has expanded its offerings through partnerships with financial technology companies and has grown its assets in various sectors, including renewable energy, equipment, asset-based lending (ABL), software, and franchising. This diversification allows Celtic Bank to serve a broad range of commercial customers across different industries and lifecycles.
West Town Bank & Trust, chartered in Illinois with headquarters in Raleigh, North Carolina, is a dedicated financing partner for solar energy projects, specializing in the efficient utilization of the USDA’s Rural Energy for America Program. With its specialized renewable energy team, West Town Bank & Trust streamlines access to development capital through innovative financing solutions. Since 2016, the bank has authorized over $1 billion in solar financing, supporting industry innovation, the growth of clean energy, and rural economic development.
The completion of the Altona Solar project signifies Birch Creek Energy’s commitment to developing sustainable energy solutions and its ability to attract strong financing partnerships. The project’s success will further bolster the company’s position as a leading player in the renewable energy sector, contributing to a cleaner and more sustainable future.
