A round-up of the latest stories from the US solar market, featuring news of EPC Signal Energy and tracker provider Nextracker being selected for a 728MW solar portfolio in Texas and California, and Longroad Energy completing a financing package for its 200MWdc solar project in Arizona.
Intersect turns to Signal Energy, Nextracker for 728MW solar portfolio
20 July 2021: Utility-scale renewables developer Intersect Power has appointed Signal Energy as the engineering, procurement and construction agent for 728MWdc of solar in Texas and California.
The company has also contracted Nextracker to supply its NX Horizon smart solar trackers and TrueCapture yield optimisation software for the portfolio, which consists of two projects.
Both the 415MWdc Radian project in Texas and 313MWdc Athos III project in California are expected to begin construction later this year before becoming operational in 2022.
First Solar is the module supplier for both projects, with the manufacturer’s Series 6 panels set to be used.
Longroad Energy completes financing for 200MWdc Arizona project
20 July 2021: US renewables developer Longroad Energy has completed on financing for a 200MWdc project it is bringing forward in Maricopa County, Arizona.
The Sun Streams 2 project, acquired from solar manufacturer First Solar earlier this year, is being financed by CIBC acting as the lead arranger, collateral agent and issuing bank, with Silicon Valley Bank serving as coordinating lead arranger and administrative agent.
Helaba also participated, while PNC Bank is the sole tax equity investor in the project.
The project is backed by a 20-year revenue agreement with Microsoft, which is procuring power from the facility. The operational facility was built using First Solar’s Series 6 modules, trackers from Nextracker and SMA inverters.
Palladium Energy targets 500MW of solar, solar-storage with new capital
20 July 2021: Developer and investor Palladium Energy has secured a new tranche of funding to pursue 500MW of solar and solar-storage projects in the US.
Palladium has secured the new capital from Treehouse Development Finance via its joint venture with Oak Savanna Solar Investors, with the funds directly contributing towards efforts to originate, acquire and develop new solar assets.
“This additional capital raise is a testament to not only the partnership between Palladium and Oak Savanna but also to the importance of solar and solar + storage projects to the energy transition. We are thrilled to be working with TDF to acquire and develop a portfolio of utility-scale renewable energy projects,” Danny Weidlich, managing partner at Palladium, said.
