It’s springtime – so get outside this weekend – but first read your pv magazine morning brief where we talk about GameChange manufacturing in Detroit, 1.3 GW of energy storage coming to New England, solar cost recovery approved in Florida, and more!
The solar developer today announced that it has reached a deal with J.P. Morgan and Upper Bay for over $200 million in capital commitments. These funds will go towards financing the development of 8minutenergy’s 10.7 GW project pipeline.
8minutenergy has entered into a definitive agreement to sell its interest in the 121 MW-DC Springbok 3 Solar Farm to Capital Dynamics. The project has a 27-year contract to sell power to the Los Angeles Department of Water and Power.
The developer has energized Phase 1 and 2 of its Mount Signal 3 project which it expects to be fully commissioned and online by the end of 2018. The project is the second of three plants at one site which total almost 800 MW of solar power.
The solar developer completed financing and tax equity for the 26 MW Redwood 4 Solar Farm, the next phase of a group of solar farms near Bakersfield, California.
Third phase of Mount Signal Solar Farm, among the largest PV projects worldwide, will be developed by 8minutenergy and owned by Capital Dynamics
The solar developer says most of these early-stage projects are 10-100 MW in capacity, primarily in California, Texas and the Southeast.
This is one of the lower PPAs reported for solar projects in service in the United States; however PPAs are now being signed for much lower prices.
The California-based solar developer is looking to take advantage of a growing U.S. PV market, by raising capital on its near shovel-ready projects, which the company believes have a value in excess of USD 1 billion.
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