HOUSTON, Marc 17 –Solaris Energy Infrastructure, Inc. (NYSE:SEI) (“Solaris” or the “Company”), today announced it has closed two transactions which will add approximately 900 MW of new, natural gas-fueled turbine capacity between 2026 and 2029. The Company will now operate approximately 3,100 MW of total power generation capacity by the end of 2029. The Company has also closed a new $300 million credit facility to support ongoing growth.
Summary of Transactions
- Acquisition of Genco Power Solutions. On March 16, 2026, Solaris closed on the acquisition of Genco Power Solutions, a distributed power generation company that will add 400 MW of incremental power generation capacity to Solaris between 2026 and 2028, inclusive of approximately 100 MW of currently operated and contracted capacity.
- Purchase of Turbine Delivery Slots. On March 13, 2026, Solaris purchased 30 turbine delivery slots from a private party which will provide approximately 500 MW of incremental power generation capacity between early 2027 and 2029.
- Consideration for Both Transactions. At closing, Solaris paid approximately $240 million of cash, issued approximately 4 million Solaris Class A shares (valued at approximately $215 million), and assumed approximately $165 million of indebtedness. Over the next three and a half years, Solaris expects additional payments of approximately $935 million, primarily for capital expenditure progress payments to equipment manufacturers for generation and emissions control equipment.
- New and Future Growth Financing. The Company has closed and received proceeds from a new $300 million credit facility provided by Goldman Sachs & Co and Santander. The Company is evaluating additional financing or refinancing options through the credit markets in support of a more permanent capital structure.
Management Commentary
“The Solaris team’s ability to identify and secure this level of high-quality power generation capacity underscores the strength and agility of our organization. The additional scale and phased delivery of this new capacity provides immediate value to customers by delivering near-term generation that is currently unavailable from traditional supply chain channels, which accelerates time-to-power and enables our customers to quickly ramp their operations,” Bill Zartler, Chairman and Co-Chief Executive Officer, and Amanda Brock, Co-Chief Executive Officer, jointly commented. “We are excited to deploy this additional capacity to serve both existing partners and new customers, further establishing Solaris as a trusted leader in this dynamic, high-growth market. As we recently said on our earnings call, demand for our power generation solutions continues to outpace our committed and on-order capacity, which remains the case.”
Solaris’ Chief Financial Officer, Stephan Tompsett added, “The successful completion of this recent financing transaction provides Solaris with substantial liquidity to support our near-term cash requirements and ongoing operations as we implement a more permanent capital structure. This additional runway allows our team to focus on executing our strategic priorities while we explore other credit and capital markets options.”
