Clēnera secures 20-year APS PPA for 258 MW solar & 824 MWh storage project; Recurrent Energy lands $112 million loan for North Fork Solar Plant; Origis Energy breaks ground on 200 MW PV facility; HASI and Summit Ridge extend community solar partnership.
20-year PPA for Clēnera: Arizona’s largest utility, the Arizona Public Service (APS) has signed up as offtaker for 258 MW solar and 824 MWh battery storage under a 20-year PPA with Clēnera. The project is part of the 1.2 GW solar and 824 MWh CO Bar complex outside of Flagstaff, Arizona. It is being developed by the Enlight Renewable Energy subsidiary as one of the largest renewable energy installations in the US, to come online in 2025. “The agreement with APS reflects the third power purchase agreement signed at the complex – but the first with battery storage. Post execution of the PPA with APS, the entire complex is now contracted to leading utilities in Arizona,” stated Clēnera.
Recurrent Energy raises funds for solar: Canadian Solar’s global project development and power services division Recurrent Energy has raised $112 million project financing for a 160 MW DC/120 MW AC solar project. The North Fork Solar Project in Oklahoma is contracted under a 15-year power purchase agreement (PPA) with the Oklahoma Municipal Power Authority (OMPA), the utility’s maiden solar energy transaction. Blattner Energy as the EPC service provider will bring the project online in 2024. NordLB was the coordinating lead arranger and joint lead arranger for the $112 million facility with Robobank acting as the joint lead arranger.
200 MW under construction in New Mexico: Renewable energy company Origis Energy has started constructing a 200 MW solar power plant near Grants in New Mexico, US. The Escalante Solar Project is located at the site of the decommissioned 253 MW Escalante Coal Power Station of Tri-State Generation and Transmission Association. The latter will be the offtaker under a PPA signed. Origis acquired the project from TurningPoint Energy that originally developed the project. EPC contractor Gridworks plans to bring it online in 2024 with some 500,000 solar modules.
250 MW community solar deal: Climate investor HASI and commercial solar and storage company Summit Ridge Energy will partner for a 250 MW community solar portfolio in the US. The duo plan to construct, own and operate the portfolio with HASI providing financing for Summit Ridge’s growing pipeline in Illinois and Maryland over the next 2 years. This capacity of ground mounted and rooftop community solar projects will bring down electricity costs for residential and small commercial customers. This partnership expands the size of the joint venture (JV) between the 2 companies since 2019, which has so far developed a 255 MW solar portfolio.