Terra Energy has closed a $105 million series of fundings to support its rapid expansion across the US residential solar market, including a $35 million green loan from Breakwall Capital.
The financing follows equity investments from ARC PE and Azora Capital, alongside credit facilities from Banesco and First Horizon Bank. The capital will enable Terra to expand beyond its Florida base into Texas and California as it continues to scale at pace.
Terra is currently Florida’s largest residential solar provider and recently entered the Texas market, with preparations under way for a launch in California. The company offers homeowners clean electricity through a short-term solar subscription, with no upfront costs, insurance and maintenance included, and savings of up to 50% on electricity bills.
“The AI revolution unfolding right now has been tied to one thing: access to more energy,” said Jaime Martinez, founder and chief executive of Terra Energy. “The old residential solar business model didn’t work. It was too complicated, too expensive, and pushed too much risk onto homeowners. Terra fixes that.”
“Our vertically integrated and customer-first approach delivers energy that saves customers significant money on day one, with no debt, no equipment burden, and no long-term lock-in,” Martinez added. “Breakwall’s partnership accelerates our expansion at the exact moment regulatory incentives shift decisively toward a cleaner and more efficient way to go solar.”
“We are thrilled to partner with Terra as they continue their growth within Florida and expand into new markets,” said Walt Hughes, managing director at Breakwall. “Their subscription model eliminates friction, aligns incentives, and directly addresses the affordability and reliability issues that have long held back the industry.”
Greenberg Traurig served as legal counsel and Barkers Point Capital Advisors acted as placement agent for Terra. Vinson & Elkins served as legal counsel for Breakwall, with Teneo acting as independent technical and commercial adviser.
