TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
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August 19, 2024
Source: PR Newswire
42MW Altona Solar is the first Birch Creek asset in Missouri to achieve full operation
ST. LOUIS, Aug. 15, 2024 /PRNewswire/ -- Birch Creek Energy, LLC ("Birch Creek"), a St. Louis based renewable energy company, announced the completion of financing and full operation of Altona Solar, a 42MW utility scale solar project based in Missouri. This facility, along with the recently completed 49MW project Earp Solar in Illinois, represents the second of several projects slated to come on-line this year as part of Birch Creek's independent power producer ("IPP") strategy.
"We cannot thank our financing partners enough for their invaluable support as we complete our first project in our home state of Missouri," added Max Whitacre, EVP of Project Finance for Birch Creek. "It is such a pleasure working with the Celtic and West Town teams, and we look forward to continued financings with both relationships as we continue to build out our IPP."
Tax equity was provided by Celtic Bank, who in addition to providing financing for this project, participated on the previously completed Earp project. Permanent debt was provided by West Town Bank & Trust.
"Celtic Bank is honored to reinforce our commitment to the renewable energy sector by providing tax equity for Birch Creek's impactful projects," stated Justin Fuller, SVP of Renewable Energy Finance at Celtic Bank. "Our focus on strategic lending and investing in the renewable energy sector aligns perfectly with Birch Creek's ambitious utility-scale solar and storage projects. We are confident that our continued financial partnership will facilitate the successful realization of these and future projects."
"We are proud to support the clean energy infrastructure Birch Creek is developing in the state of Missouri," said Riddick Skinner, EVP of Government Lending at West Town Bank & Trust. "The success of our industry banks on strong partnerships, and we look forward to continuing to support Birch Creek alongside their partners as they grow through the Altona project."
Altona Solar is a 42MWdc solar project based in Audrain County, Missouri. The project is sited on 208 acres and connects to Ameren Missouri. Altona Solar generates enough clean electricity to power over 6,300 homes.
About Birch Creek Energy
Birch Creek Energy, a utility scale solar development platform, develops, finances and owns utility scale solar and storage projects in the United States. Since 2019, Birch Creek Energy has developed 1.7 gigawatts (GW) of solar projects and has a portfolio of over 14.2 gigawatts (GW) of utility scale solar and storage projects in various stages of development and operation across MISO, PJM, ERCOT and the Southeast. Birch Creek Energy has 56 employees and is based in St. Louis, Missouri. For more information, visit www.birchcreekenergy.com.
About Celtic Bank
Founded in 2001 and headquartered in Salt Lake City, Utah, Celtic Bank is an industrial bank specializing in a diverse range of financing solutions for businesses. The bank's early focus was in small business lending through the SBA loan program and Celtic continues to consistently rank in the top 10 SBA lenders nationwide by dollar volume. Over the years, the bank has expanded its offerings through financial technology partnerships and has grown its assets in other sectors, including renewable energy, equipment, asset-based lending (ABL), software and franchising, allowing the bank to assist a broad range of commercial customers across different industries and lifecycles.
About West Town Bank & Trust
West Town Bank & Trust is a dedicated financing partner for solar energy, specializing in the efficient application of the USDA's Rural Energy for America Program. With its specialized renewable energy team, West Town streamlines access to development capital with creative financing solutions. West Town has authorized over $1 billion in solar financing since 2016, facilitating industry innovation, the growth of clean energy, and rural economic development. The bank is chartered in Illinois with headquarters in Raleigh, North Carolina. For more information about West Town Bank & Trust, visit www.westtownbank.com.
