Sol Systems has reached financial close for its 123 MWac Peoria Solar Portfolio in Illinois, supported by a US$355 million investment.
Sol Systems has achieved financial close for its 123 MWac Peoria Solar Portfolio in Illinois, marking a significant milestone in the development of its community solar pipeline in the United States.
Backed by an investment of US$355 million, the portfolio is being financed through Sol Systems’ revolving construction warehouse facility. The projects will be developed across Knox, Peoria and Tazewell counties and are scheduled to become operational in 2027.
Once commissioned, the portfolio is expected to generate approximately 280,000 MWh of electricity annually—enough to supply clean power to more than 25,000 households across the US.
The debt financing has been arranged by BBVA, ING Capital LLC, Intesa Sanpaolo (IMI CIB Division), National Australia Bank, Natixis CIB and NatWest, while Raymond James Renewable Energy Investments is providing tax equity financing. SOLV Energy has been appointed as the engineering, procurement and construction (EPC) contractor, extending its partnership with Sol Systems that began with the Eldorado Solar Project in southern Illinois. Upon completion of the Peoria portfolio, the two companies will have collaborated on more than 550 MWac of solar capacity across the US.
Earlier this year, in March 2026, Sol Systems expanded its Illinois portfolio through the acquisition of the 250 MWac Wolf Creek Renewable Energy Center in Saline County from US Solar. The project had been advanced through land acquisition, permitting and grid interconnection activities, including securing a conditional land use permit in September 2024. It is also part of the Midcontinent Independent System Operator’s (MISO) DPP-2022 interconnection cycle.