Norton Rose Fulbright represents rPlus Energies in US$100 million tax equity financing for Idaho solar facility

Global law firm Norton Rose Fulbright represented rPlus Energies in the closing of a US$100 million tax equity financing with Truist Bank for Pleasant Valley Solar 2, a 125-megawatt solar facility in Ada County, Idaho. The deal closed on August 20 and was announced on September 9, 2025.

Pleasant Valley Solar 2 will be the second rPlus Energies project to deliver solar electricity to Idaho Power's grid and support Meta's energy commitments in light of its data center in Kuna, ID.

The project represents a total investment of more than US$175 million in the state. The deal brings rPlus Energies' 2025 tax equity financial commitments to more than US$600 million across multiple developments.

Construction of Pleasant Valley Solar 2 began earlier this year and is expected to be placed in service and reach substantial completion in 2026. Norton Rose Fulbright also represented rPlus Energies in connection with the construction/term loan debt financing of the project, which closed last year in November.

Norton Rose Fulbright's deal team was led by Christy Rivera, Richard Wright (New York) and Dylan Gera (Los Angeles). The core deal team also included Jenna Goldman and Andrew Kelbley (New York).

Additional support was provided by Keith Martin (Washington, DC), Kat Gamache (Houston), Vincent Dunn, Steven Howard, Cassandra Gizzo and Caelle Aoun (New York).