Financing closes for 352MWh solar-plus-storage project in California

The project in Kern County, CA, will combine 174MW of solar PV and a four-hour 88MW/352MWh BESS once operational in September 2023.

Wells Fargo, MUFG and Silicon Valley Bank have completed US$260 million of construction financing for Leeward Renewable Energy’s Chaparral Springs solar-plus-storage project in California.

The developer announced the securing of financing and tax equity commitments for Chaparral Springs yesterday (10 January). The project in Kern County, California, will combine 174MW of solar PV and a four-hour 88MW/352MWh battery energy storage system (BESS) once operational in September 2023.

The debt portion was issued under the Loan Market Authority’s Green Loan Principles. JP Morgan has provided US$29 million in tax equity investment and has committed to investing another US$114 million at commissioning.

Click here to read the full article
Source: Energy Storage News

—

If you have any questions or thoughts about the topic, feel free to contact us here or leave a comment below.

/0 Comments/by
You might also like
Wood Mackenzie Power & Renewables said in recent research that a total 3GW of utility-scale energy storage came online during 2021 in the US.Solar-plus-storage potential is everywhere in the US
The California Legislature wrapped up its session last week and dozens of climate bills now await Gov. Gavin Newsom’s signature — or veto.Here are the major climate bills that made it through California’s Legislature this year
California now has the capacity to store 5,600 megawatts of power using batteries. That's enough to supply more than 4 million homes.Batteries, not blackouts: California’s power grid gets boost from battery energy
Adoption of rooftop solar panels has surged on the Caribbean island of Puerto Rico as it contends with high energy costs and frequent outages.Why tiny solar projects play an outsized role in powering Puerto Rico
Symbium signed up 22 CA cities to try out its software, which uses automation techniques to slash the time it takes to process solar permits.AI-powered permitting is speeding up solar deployments in California
The BLM announced that the Arlington Solar Energy Center is now fully operational. It will have enough energy to power 110,000 homes a year.Clean energy project on BLM-managed public lands in California goes operational
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *