After successfully securing financing, Sol Systems is set to commence construction of a 123-megawatt solar project portfolio in Illinois. These projects will be developed across more than 900 acres of land in Knox, Tazewell, and Peoria counties.

"This milestone reflects our ability to advance high-quality projects from the development phase to the construction phase, and to possess the necessary capital structure, execution discipline, and partner support to build a durable self-sustaining and operational asset portfolio," said Richard Romero, CFO of Sol Systems.

The solar energy project is expected to create approximately 300 construction jobs, generate over $25 million in long-term property tax revenue, and contribute to the economic and community development of central Illinois.

SOLV Energy will serve as the EPC for this project. SOLV is also collaborating with Sol Systems on the Eldorado Solar Project in southern Illinois, which has a capacity of 189 megawatts direct current.

"We are proud to continue our collaboration with Sol Systems as the Peoria solar project portfolio is about to enter the construction phase," said George Hershman, CEO of SOLV Energy. "Our team is committed to delivering high-quality clean energy infrastructure safely and reliably, while creating lasting value for the communities where these projects are located. We look forward to bringing our utility-scale EPC experience in Illinois to another significant Sol Systems project portfolio."