The deal follows an earlier $210 million financing package for a 260 MW Texas solar project.
Also on the rise: Duke agrees to new net metering rates, Ingeteam supplies inverters for BESS project, and Powin launches battery energy storage system.
The 300 MWAC solar and 150 MWAC/600 MWh battery energy storage system facility is being build in northwestern New Mexico.
The deal includes long-term O&M agreements for the solar, storage, and wind assets.
The solar developer said the investment will increase iSun’s involvement brownfield redevelopment, dual-use projects, and emergent storage technologies.
Also on the rise: UK scientists probe perovskite cell structures to better understand how they work, and the International Trade Commission says that Section 201 tariffs should be extended.
The 260 MWdc Brazoria West Solar Project is under construction, with commercial operation planned for 2022.
The company said it will use the proceeds for its long-term strategic growth plans, including investing in its battery storage business and growing its storage pipeline.
Also on the rise: Solar capacity additions are recovering from a subdued 2020, utilities ask for 50 MW of solar in West Virginia, and Broad Reach gets a $400 million equity commitment.
The funding commitment comes as Apollo takes a 50% stake in the company from venture capital firm EnCap Energy.
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