Massive Solar Project at Texas Coal Plant Secures $1.8 Billion Loan
Panamint Capital transforms a coal site into a major renewable energy hub.
1Repurposing Coal Infrastructure
Construction began in July on the 1.2 GW Big Rooter Power solar project located at the Twin Oaks coal station in Texas. This initiative represents the largest brownfield renewable energy project in North America. By utilizing 1,804 hectares of reclaimed coal mine land, the project effectively integrates solar power into existing industrial sites.
2Green Loan Structure
Panamint Capital secured a $1.8 billion green loan to fund the two-phase development of the solar complex. The first phase, valued at $769 million, supports the 491 MW Big Rooter West portion. The remaining $1 billion will finance the 658 MW Big Rooter East stage, with financing expected to close in early 2027.
3Strategic Site Integration
The Twin Oaks complex serves as a multi-functional energy hub combining thermal power, surface mining, and battery storage. Upon completion, the site will feature 1.5 GW of total power capacity. Additionally, the facility includes 20 miles of new 345 kV transmission lines and 1.6 GWh of battery storage to manage energy distribution efficiently.
4Long-term Economic Impact
Panamint Capital signed a long-term power purchase agreement with an unnamed major corporation to secure the project's financial viability. This contract ensures that electricity generated at the site will support operations through the 2050s. The project is expected to create over 800 jobs during the construction phases of both West and East segments.
5Domestic Supply Chain Focus
The project prioritizes domestic manufacturing by utilizing over 34,000 tons of American steel. First Solar will supply approximately 2 million solar panels produced in Ohio, Louisiana, and Alabama. Furthermore, California-based Nextpower will deploy specialized NX Horizon solar tracker systems, including Hail Pro-75 technology, to optimize energy capture across the vast Texas site.
6Project Timeline Milestones
While the first phase is currently underway, the 658 MW Big Rooter East phase is scheduled to begin construction in December 2026. Commercial operations for this second stage are slated for August 2029. These staggered timelines allow the developer to manage infrastructure upgrades and grid interconnection requirements at the existing coal complex.
7Corporate Sustainability Strategy
Nevada-based Panamint Capital, founded in 2019, focuses on redeveloping existing industrial sites for utility-scale renewable energy. By leveraging current interconnection infrastructure, the firm aims to extend the productive lifespan of legacy power plants. This strategy supports local employment while driving long-term economic value in the communities where the company operates its assets.
8Future Energy Hub Potential
Beyond solar generation, the Twin Oaks site is developing 790 MW of Batch Zero data center capacity. This multifaceted approach demonstrates how traditional energy sites can evolve into modern, diverse power centers. The integration of storage, transmission, and data capacity positions the site as a critical component of the regional energy grid.
Original article: pv magazine — Massive Solar Project at Texas Coal Plant Secures $1.8 Billion Loan