Solaris Energy Infrastructure Adds 900 MW Capacity, Secures $300 M Credit Facility
Solaris Energy Infrastructure closed acquisitions adding 900 MW of gas-fueled turbine capacity by 2029, bringing total capacity to about 3,100 MW. It secured a $300 million credit facility and issued 4 million shares, paid $240 million cash and assumed $165 million of debt to fund these expansions.
1. Acquisition and Capacity Expansion
Solaris closed the acquisition of Genco Power Solutions on March 16, adding 400 MW of capacity between 2026 and 2028 (including 100 MW currently operated) and purchased 30 turbine delivery slots on March 13 for 500 MW between early 2027 and 2029, lifting total capacity by approximately 900 MW to 3,100 MW by the end of 2029.
2. Transaction Consideration
At closing, Solaris paid $240 million in cash, issued about 4 million Class A shares valued at $215 million and assumed $165 million of indebtedness, with additional capital expenditure payments of roughly $935 million expected over the next 3.5 years.
3. Financing Arrangement
The company secured a $300 million credit facility from Goldman Sachs & Co and Santander to bolster near-term liquidity and is evaluating further credit market options to establish a more permanent capital structure.
4. Strategic Outlook
Executives noted the phased capacity delivery accelerates time-to-power for customers facing supply shortages, strengthens Solaris’s market leadership and provides a runway of liquidity to execute strategic priorities while exploring additional financing alternatives.