Sunraycer Acquires 325 MWac Solar Portfolio in Illinois and Missouri from Apricus Energy

Transaction expands Sunraycer's MISO footprint, adding two advanced-stage projects to its development pipeline

ANNAPOLIS, Md., Nov. 3, 2026 /PRNewswire/ -- Sunraycer Renewables ("Sunraycer"), a Crayhill Capital Management portfolio company and independent power producer, today announced it has acquired the Gem City and Mighty Mississippi solar projects from Apricus Energy ("Apricus"). The two utility-scale solar projects total 325 MWac and extend Sunraycer'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.

The projects' respective footprints and planned grid connections include:

• Gem City: A 175 MWac solar project in Adams County, Illinois, that will interconnect to Ameren's 138 kV transmission system.
• Mighty Mississippi: A 150 MWac solar project in New Madrid County, Missouri, that will interconnect to Ameren's 161 kV system.

With site control secured, environmental studies completed, and key permitting activities substantially complete, both projects are in the final phase of MISO's interconnection process. Construction is expected to begin in early 2028, with commercial operations targeted for 2029. Sunraycer expects to use safe-harbored equipment for both developments.

Once operational, the projects are expected to generate enough electricity to power approximately 78,500 homes, support an estimated 560 construction jobs, and contribute $92 million in local tax revenue over their operating lives. Sunraycer will work closely with landowners, local officials, and community stakeholders in Adams and New Madrid counties as the projects advance.

"Gem City and Mighty Mississippi are compelling additions to our growing portfolio of advanced, well-sited solar projects," said David Lillefloren, CEO of Sunraycer. "Both projects expand our geographic reach and position us to help meet growing electricity demand across the Midwest. We're grateful to the Apricus team for their work advancing these projects and look forward to carrying them through construction and into operation."

"Gem City and Mighty Mississippi reflect Apricus Energy's commitment to developing high-quality renewable energy projects that create lasting value for communities, customers, and stakeholders," said Anand Gangadharan, Manager of Apricus Energy. "We are proud of the progress our team has made in advancing these projects and are pleased to transition them to Sunraycer, whose development expertise and long-term ownership strategy position them well for successful completion and operation." 

Sunraycer was advised by Algorithm Law as legal counsel. The sellers were advised by Holland and Knight.

About Sunraycer

Sunraycer, a Crayhill Capital Management portfolio company, is a rapidly-growing, Annapolis, Maryland-based Independent Power Producer (IPP), that has a development, construction-stage, and operational pipeline of approximately 3 GW of solar and battery utility-scale power plants. The company prioritizes industry-leading best practices in transmission analytics, land analysis, and valuation, emphasizing flexibility and optimization to adapt to evolving market conditions and technologies. Sunraycer leverages enterprise-scale partnerships with proven industry leaders, as well as an experienced and driven in-house team of renewable energy experts, to accelerate the deployment of development-stage projects.

About Apricus Energy

Apricus Energy is a joint venture formed by NOVI Energy and Osaka Gas USA in 2021 with the goal of accelerating the development and deployment of renewable energy infrastructure across the United States. Combining NOVI Energy's proven expertise in project development and execution with Osaka Gas USA's financial strength and long-term energy investment experience, Apricus Energy develops utility-scale solar, energy storage, and other clean energy assets. The company is dedicated to delivering reliable, sustainable, and cost-effective energy solutions while creating long-term value for customers, partners, and the communities it serves.

Sunraycer Media Inquiries
Jake Forrestal
Prosek Partners
pro-crayhill@prosek.com

Apricus Media Inquiries
Laura Meyer
Laura@chromaconceptsmarketing.com

SOURCE Sunraycer Renewables