By Katherine Hamilton

Solaris Energy Infrastructure shares rose after the company closed two deals that will expand its natural gas-fueled turbine capacity by 900 megawatts.

The stock rose 16% to $66.13 on Tuesday, at one point touching a 52-week high of $66.66. Shares have nearly tripled in the past 12 months.

The renewable-energy company said on Monday the new capacity will come online between 2026 and 2029, bringing its total power-generation capacity to 3,100 megawatts by the end of 2029.

Solaris acquired Genco Power Solutions, which will bring in 400 megawatts in the next three years. It also purchased 30 turbine delivery slots from a private party, which will add 500 megawatts between 2027 and 2029.

Solaris paid $240 million in cash, issued about 4 million shares and assumed about $165 million of debt to cover the two deals.

The company expects additional payments of about $935 million during the next three years, primarily for capital expenditure progress payments for generation and emissions-control equipment.

Solaris also said it has closed a new $300 million credit facility to support ongoing growth initiatives.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

March 17, 2026 11:16 ET (15:16 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.