Morning Brief: Financing for a 200 MW project, EDP agrees to a power contract

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$217 million in financing for the 200 MW Hillcrest solar project in Brown County, Ohio has been raised, thanks to a round led by CIT Group. In conjunction with the financing, CIT is providing a package of cash management and capital markets services to the project’s developer, Innergex. The funding was lead on behalf on Innergex. Source: CIT Group

Redwood Coast Energy Authority and EDP Renewables North America have come to terms on a 15-year power purchase agreement (PPA) for 100 MW of generation from the Sandrini Sol 1 Solar Park in Kern County, California. The 100 MW Sandrini Sol 1 Solar Park is expected to reach commercial operational in 2022 and represents an estimated capital investment of more than $100 million. This project will generate enough electricity to meet approximately 45% of RCEA customers’ demand. Source: Lost Coast Outpost

A number of schools in Augusta County and Orange County, Virginia, as well as the CARITAS center in Richmond will now have the capital to develop solar installations, thanks to an agreement between Secure Futures Solar and City National Bank. The agreement is for $8 million in loan financing, to cover the construction costs of the projects. Secure Futures will install an additional 2 MW of solar across five campuses of Augusta County Schools, which previously received 1.8 MW on seven school campuses in 2019. At Orange County Schools, the company will install 2.5 megawatts of solar arrays on eight campuses. The CARITAS center’s installation will be 427 kW. Source: Secure Futures Solar

REC Solar has completed the company’s solar microgrid solution for Dependable Hawaiian Express’ environmentally friendly facility in Honolulu. The 133-kW solar photovoltaic project included in the microgrid is located on the 76,000-square-foot roof of DHX’s new warehouse and distribution center in Honolulu. The solar is combined with 222 kWh of battery energy storage, a microgrid controller and other equipment. Source: REC Solar