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X-Caliber Rural Capital Affiliate Closes $100MM Loan for Fervo Energy’s Cape Station Project

Sep 10, 2024almost 2 years ago

Contract Type

partnership

Financial ServicesReal EstateFinanceLending

Description

X-Caliber Rural Capital's affiliate, XRL-ALC, LLC, has closed a $100MM bridge loan to support Phase I development of Fervo Energy’s Cape Station project in Beaver County, Utah. The Cape Station project is the world’s largest next-generation geothermal project, which will generate 90 MW of renewable energy capacity and is expected to be completed by June 2026.

Company Information

Company

X-Caliber Rural Capital

About

X-Caliber Rural Capital is the USDA OneRD’s Top Lender by Volume for Fiscal Year 2023 and Top Overall Lender. The company is an affiliate of X-Caliber Capital Holdings, a national real estate lending and investment firm. X-Caliber Rural Capital is a national, licensed and approved U.S. Department of Agriculture lender that provides financing for rural business and economic development projects under four flagship programs that fall under the OneRD Guaranteed Loan Initiative. The Company is dedicated to creating attractive solutions for its borrowers that meet the needs of rural communities throughout the country. About X-Caliber Capital Holdings (X-Caliber) X-Caliber is a nationally recognized commercial real estate finance franchise whose affiliate companies provide direct mortgage lending, servicing, advisory, and investment opportunities leveraging expansive and innovative lending platforms that offer FHA, bridge, USDA, and C-PACE financing. X-Caliber is focused on providing clients with the best capital solutions available to achieve their business goals, while focusing on some of the nation’s greatest challenges – affordable housing, the environment, care for our seniors, and rural businesses. X-Caliber and its affiliates have team members located in 11 states across the country.

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