Solaris Energy Infrastructure Adds 900 MW Natural Gas Capacity
Solaris Energy Infrastructure last night announced it has closed two transactions which will add 900 MW of new, natural gas-fueled turbine capacity between 2026 and 2029. The company will now operate approximately 3,100 MW of total power generation capacity by the end of 2029, it said in a statement. Solaris said it also closed a new $300M credit facility "to support ongoing growth." On March 16, Solaris closed on the acquisition of Genco Power Solutions, a distributed power generation company that will add 400 MW of incremental power generation capacity to Solaris between 2026 and 2028, inclusive of approximately 100 MW of currently operated and contracted capacity. On March 13, Solaris purchased 30 turbine delivery slots from a private party which will provide approximately 500 MW of incremental power generation capacity between early 2027 and 2029. At closing, Solaris paid approximately $240M of cash, issued 4M Solaris class A shares, and assumed $165M of indebtedness. Over the next three and a half years, Solaris expects additional payments of $935M. Shares of Solaris are up 13%, or $7.56, to $64.55 in midday trading.
