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The Bayou Galion solar project is expected to reach commercial operations in 2024 and is part of a larger portfolio set to bring 343 MW of solar energy to the state, which has seen just over 200 MW installed thus far.
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About 439MW of solar will soon be under construction in Morehouse Parish, Louisiana, more than doubling the state’s solar capacity to date.
Financing for both projects was facilitated by power purchase agreements. For the Arkansas project, the agreement is with Conway Corp. and for the Louisiana project the agreement is with McDonald’s and eBay.
Magnetar Capital was the lead investor and will name two new members to PosiGen’s board of directors.
The solar facilities will be built by D.E. Shaw Renewable Investments under power purchase or build transfer agreements.
Energy Vault signed a $520 million deal to supply 1.6 GWh of energy storage to DG Fuels to produce renewable hydrogen and a variety of fuels.