BayWa r.e. announced it has closed financing for Jacumba Valley Ranch Energy Park, a project in southeastern San Diego County, California that includes 90 MW of solar and 70 MW / 280 MWh of battery energy storage.
The facility, expected to be operational in fall of 2026, is planned to deliver electricity to roughly 57,000 homes through San Diego Community Power.
The company said construction is now underway. Over its lifetime, the solar project is expected to avoid approximately 500,000 metric tons of carbon dioxide emissions, while its battery system enhances grid stability and operations.
“Our team, local officials, permitting and financing partners, and our EPC and construction teams shared a clear goal: deliver a reliable, cost-efficient energy project that adds new capacity to the grid and creates lasting value for San Diego County,” said Geoff Fallon, interim chief executive officer and chief operations officer of BayWa r.e. Americas.
The project secured a construction-to-term loan facility, led by Société Générale, as well as a preferred equity investment from funds managed by Wafra Inc., a New York-based global alternative investment manager. Acadia Infrastructure Capital, L.P. a North American power infrastructure investment manager, invested preferred equity in the project alongside Wafra.
Total funding commitment for the Jacumba Valley Ranch is about $416 million. The project signed a tax credit transfer agreement with “a large corporate buyer,” said BayWa r.e.
Construction of the project is expected to generate about 350 union jobs through project labor agreements, with a few long-term operational jobs to follow.
BayWa r.e. has also committed $4 million in direct investment to Jacumba Valley, which is being directed by input from the Jacumba Community Sponsorship Group, the County of San Diego, and a local resident survey.
A fire protection agreement with the San Diego County Fire Authority designates five acres of project land for a new Jacumba fire station. The project also includes a 435-acre biological open space easement and avoids sensitive habitats, wetlands, and jurisdictional waters.
BayWa r.e. reports 12.8 GW in its development pipeline, manages over 1.5 GW of operational assets across the U.S. and Mexico, and has brought over 2 GW online since 2014.
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