DESRI and Ranger Power Announce Close of Financing and Start of Construction for 250MWac Show Me State Solar Project in Missouri

NEW YORK, Feb. 10, 2025 /PRNewswire/ -- DESRI, in partnership with Ranger Power, today announced that the Show Me State Solar Project achieved financial close with its project lenders and initiated construction. Show Me State Solar (the Project) is a 250-megawatt (MWac) solar facility in Callaway County, Missouri.  

"Starting construction at Show Me State Solar is an exciting milestone for DESRI as well as our partners at Ranger Power," said Thomas de Swardt, Chief Commercial Officer of DESRI. "This is DESRI's third project in Missouri to start construction, and we appreciate all of the Project's stakeholders and supporters as we continue to expand our portfolio. We particularly appreciate Ranger's efforts as well as Meta's support in moving the Project forward."

Show Me State Solar has a power purchase agreement with an affiliate of Meta and is expected to employ upwards of 300 individuals during peak construction. The Project is expected to begin commercial operations in 2026.

"Ranger Power is proud to play a role in bringing this significant level of investment to Callaway County," said Adam Cohen, Co-Founder and Chief Executive Officer of Ranger Power. "A nearly $500 million venture, this forward-thinking partnership advancing Meta's role as a technology leader will benefit the local community and citizens of the Show Me State for decades to come with locally harvested and cost-effective power."

Financing for the construction of the Project was provided by a consortium of lenders including Canadian Imperial Bank of Commerce (CIBC) as left lead arranger, plus Nord/LB, Royal Bank of Canada, and Bank of America. 

"CIBC is pleased to serve as Co-Coordinating Lead Arranger and Administrative Agent in the Show Me State financing, highlighting our strong and trusted relationship with DESRI and our shared commitment to sustainable energy and a greener economy," said Peter O'Neill, Head of U.S. Project Finance and Infrastructure at CIBC.

"We are excited to see the Show Me State solar project in Missouri soon kicking off construction," said Urvi Parekh, Head of Global Energy at Meta. "This project is an important part of our broader work to continue matching our electricity with 100% renewable energy – including our data center infrastructure in Kansas City."

About DESRI
DESRI and its affiliates develop, acquire, own, and operate long-term contracted renewable energy assets in the U.S. DESRI's portfolio of contracted, operating, and in-construction renewable energy projects currently includes 70 solar and wind projects representing more than nine gigawatts of aggregate capacity.

About Ranger Power
Ranger Power is a utility-scale clean power development company focused on bringing well-sited, community-supported, and cost-effective energy throughout the United States. Ranger Power has a development portfolio of approximately 13 GW of active projects and has moved over 1.5 GW of projects into construction and operation in partnership with DESRI.

This press release is provided for the reader's information only and does not constitute investment advice or convey an offer to sell, or the solicitation of an offer to buy, any securities or other financial products.

Please also note that this press release has not been updated since its dateline for any information contained in it that may have changed, including any beliefs and/or opinions. In addition, no assurances can be given that any aims, assumptions, expectations, and/or goals described in this release will be realized or that the activities or any performance described herein did or will continue at all or in the same manner as at the time of the press release.

Contact:
DESRI Media
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SOURCE DESRI