ANNAPOLIS – November 03, 2026 -- Sunraycer Renewables, a Crayhill Capital Management portfolio company, has acquired the Gem City and Mighty Mississippi solar projects, totaling 325 MWac, from Apricus Energy. The deal extends the independent power producer's presence in the Midcontinent Independent System Operator (MISO) market into Illinois and Missouri. Apricus is a joint venture between NOVI Energy and Osaka Gas USA.
Two projects in Ameren territory add 325 MWac to Sunraycer's pipeline
Gem City is a 175 MWac project in Adams County, Illinois, and will interconnect to Ameren's 138 kV transmission system. Mighty Mississippi is a 150 MWac project in New Madrid County, Missouri, and will interconnect to Ameren's 161 kV system.
Sunraycer describes its development, construction-stage and operational pipeline as roughly 3 GW of solar and battery utility-scale assets.
Both projects are in the final phase of MISO interconnection
Site control is secured and environmental studies are complete. Key permitting activities are substantially complete. Construction is expected to begin in early 2028, with commercial operations targeted for 2029. Sunraycer expects to use safe-harbored equipment for both developments.
Projects are expected to power 78,500 homes and generate $92 million in local taxes
Once operational, the projects are expected to supply enough electricity for approximately 78,500 homes. They are also expected to support an estimated 560 construction jobs and contribute $92 million in local tax revenue over their operating lives. Sunraycer plans to work with landowners, local officials and community stakeholders in Adams and New Madrid counties as the projects advance.
Sunraycer cites Midwest demand growth as the rationale
Sunraycer CEO David Lillefloren said the projects expand the company's geographic reach and help it meet growing electricity demand across the Midwest. He said Sunraycer intends to carry them through construction and into operation.
Anand Gangadharan, Manager of Apricus Energy, said Sunraycer's development expertise and long-term ownership strategy make it well suited to complete and operate the projects.
Algorithm Law advised Sunraycer as legal counsel. Holland and Knight advised the sellers.