Green & Clean Power LLC (GCP) has secured approximately $300 million in debt and equity financing to develop a solar energy generation and battery storage facility in Osceola, Arkansas. The project spans nearly 500 acres and includes a 105MW solar installation along with a 160MWh battery energy storage system. KfW IPEX-Bank contributed around $165 million in construction debt financing, with Aurora Energy Research as the Market Advisor. Additionally, the Arkansas Teacher Retirement System (ATRS) committed $100 million for takeout financing.
Dr. Velibor Marjanovic from KfW IPEX-Bank remarked on the importance of sustainable steel production: “The sustainable production and recycling of steel plays a key role in global decarbonization.” He emphasized their ongoing support for projects like Hybar's rebar mill, which they financed in 2023.
Mark White, Executive Director of ATRS, expressed satisfaction with supporting GCP: “We are pleased to support this newest entity knowing it benefits our state, it benefits our environment, and most of all, it will benefit our members.”
GCP will provide renewable electrical energy to its sister company Hybar LLC. This adjacent scrap metal recycling steel rebar mill is under construction and expected to begin operations by summer 2025. It aims to produce high-yielding rebar primarily for large infrastructure projects.
Hybar is projected to receive about 40% of its annual power consumption from GCP’s renewable sources. Ari Levy from Global Principal Partners highlighted that this setup allows Hybar customers to be certain their electricity comes from renewable sources: “Unlike other industrial businesses which seek to invest in renewable power generation projects hundreds of miles away... GCP’s production... will be directly connected to Hybar.”
This integration positions Hybar as potentially having one of the lowest emissions levels globally due to its use of recycled materials and access to renewable power.