EXCELSIOR, Minn. — A major milestone in the nation’s clean energy expansion has arrived as Excelsior Energy Capital officially brought its 685.3 MWDC / 525 MWAC Faraday Solar project online in Utah County. Commercial operations launched on September 30, 2025, marking one of the largest utility-scale solar projects ever completed in the United States.
The massive solar farm — containing approximately 1.2 million solar panels spread across an area comparable to New York City’s Central Park — represents a fundamental step forward in powering commercial operations with renewable energy.
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A 20-year power purchase agreement (PPA) with PacifiCorp under Rocky Mountain Power’s Schedule 34 program ensures long-term energy delivery. As part of that agreement, Meta will purchase the solar output and environmental attributes to supply its rapidly expanding data center operations in Utah with clean energy.
The agreement underscores how tech companies are increasingly driving the renewable energy market to meet corporate sustainability goals.
“Successful delivery of this landmark project reaffirms Excelsior’s commitment to enabling others to reach their clean energy goals and support a clean and reliable grid,”
— Chris Frantz, Partner and Head of Portfolio Operations, Excelsior Energy Capital
Frantz added that solar investment has remained resilient despite global supply-chain uncertainty, calling renewable energy a stabilizing force in a “volatile global landscape.”
How the Project Came Together
• Originally developed by Parasol and Clenera, Excelsior acquired the project in 2023
• Financed by a major coalition of U.S. and international financial partners
• Construction completed in under two years — a notable achievement given market pressures
• Energy Project Solutions (EPS) and RES Group provided engineering and build support
“Delivering a project of this scale and complexity reflects the strength of our partnerships and our execution capabilities. We’re proud that Faraday Solar will serve as a model for large-scale clean energy delivery across North America.”
— Dan Bove, Senior Director, Construction Management & Project Execution, Excelsior Energy Capital
The investment also directly supports PacifiCorp’s plans to increase grid reliability and reduce emissions across the region, addressing growing customer demand for clean power.
Solar’s Broader Impact
The International Energy Agency (IEA) and World Economic Forum continue to rank solar as the fastest-growing renewable technology globally. Large-scale installations like Faraday Solar are expected to play an increasing role in U.S. grid modernization, especially as electrification needs surge from:
✅ AI data centers
✅ Industrial manufacturing reshoring
✅ Consumer EV adoption
✅ Grid reliability initiatives
As Utah becomes a hotspot for hyperscale data center growth, utility-scale solar is helping balance energy demand while reducing carbon impact.
Community and Investor Celebration
A ribbon-cutting ceremony will take place November 5 in Utah County, bringing together partners, investors, and community leaders to mark the achievement. The project is expected to generate ongoing local economic benefits through jobs, business activity, and increased tax support for the region.
Excelsior expressed appreciation for its financing and development partners, including U.S. Bancorp Impact Finance, MUFG, Nord/LB, Deutsche Bank, DNB, Zions Bank, Société Générale, and others who played critical roles in the capital structure.
About Excelsior Energy Capital
Founded in 2017 and based in Minneapolis, Excelsior specializes in middle-market wind, solar, and energy storage investments across North America. With over $1.5 billion in equity capital across two active funds, the firm continues to pursue projects aligned with the U.S. clean energy transition and grid resilience priorities.
Originally reported by Excelsior Energy Capital in Utah Business.
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