Development partnership on a 400 MW energy project in USA

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Development partnership on a 400 MW energy project in USA

Capital Dynamics has entered into a development partnership with 8minute Solar Energy through the equity financing and acquisition of the breakthrough Eland Solar & Storage Center, a 400 MWac solar and storage center project located in Kern County, California. The project features a 300 MW/1200 MWh energy storage facility, making it one of the largest in the world and the record low-cost for this type of facility. Financial details of the transaction were not disclosed.

A long-term PPA has been secured to serve the power needs of The Los Angeles Department of Water and Power (LADWP), which is the largest municipal utility in the United States. Initial construction, which has commenced, will proceed in two phases with the goal of starting operations in 2022 and will reach full operational capabilities in 2023. 8minute will continue to develop the project in all respects and will also oversee construction. 8minute also has a right to re-purchase a portion of the project at commercial operation.

The Eland Solar and Storage Center is located 70 miles north of Los Angeles close to California City. The project is expected to create 700 jobs during a 12-month construction period.

Benoit Allehaut, Managing Director on Capital Dynamics’ Clean Energy Infrastructure team, added, “We are delighted to partner with 8minute Solar Energy on Eland. Once operational, the solar project will be the second largest in the US. This is our fourth solar project delivering clean and affordable power to LADWP. Eland will also be the third hybrid solar plus storage plant in our portfolio, and we are very happy we will have 8minute Solar Energy as a long-term equity partner. Tom runs the uncontested leading solar developer in the country, and it is a privilege to work together on this project.”

“Capital Dynamics brings tremendous expertise and significant financial resources for construction to the table, which makes them excellent long-term owners and partners,” said Dr. Tom Buttgenbach, President and CEO of 8minute. “Eland is a breakthrough project, setting records for low-cost solar, and incorporates a large battery energy storage center that demonstrates solar’s ability to power California’s vibrant and growing economy 24/7. We look forward to this partnership in order to meet the future energy needs of the city of LA with clean and affordable power from our new generation solar power plants. We are excited to build on our strong relationship with Capital Dynamics and their shared vision for the Eland Project.”

List of country news

Country news

  • January 17, 2020

    Green light for USD 1bn solar farm in USA

    The Bureau of Land Management approved the Desert Quartzite Solar Project in eastern Riverside County in California. The administration authorizes Desert Quartzite, LLC, a wholly-owned subsidiary of First Solar, to construct, operate, maintain and decommission a 450-megawatt solar photovoltaic project on approximately 3,000 acres of public lands.

    Read more
  • January 13, 2020

    Capital Dynamics acquires 300MW solar project in USA

    Capital Dynamics has announced the acquisition of the Eagle Shadow Mountain Solar Project being developed by 8minute Solar Energy. Located near Clark County, Nevada, Eagle Shadow Mountain is the first of two clean energy projects on the site that 8minute is contracted to develop and deploy. The 300 MWac/387 MWdc solar project is slated for completion and opening by the end of 2021.

     

    Read more
  • January 10, 2020

    Siemens to supply for the largest offshore wind project in USA

    Siemens Gamesa Renewable Energy (SGRE) has been selected as the preferred turbine supplier for the 2,640 MW Dominion Energy Virginia Offshore Wind project in the USA. A long-term service and maintenance agreement is included for the site located off the coast of Virginia. The agreement furthermore foresees utilizing turbines from Siemens Gamesa’s Direct Drive offshore wind turbine platform.

     

     

    Read more
  • January 09, 2020

    Enel puts into operation 318 MW of solar and wind in USA

    Enel Green Power has announced that two of its projects in the USA have come into operation: the first 252 MW phase of 497 MW Roadrunner solar PV project in Upton County, Texas and 66 MW Whitney Hill wind project in Logan County, Illinois.

     

    Read more
  • January 08, 2020

    Tenaska sells stake in two wind projects in USA totaling 492MW

    Bright Canyon has acquired ownership interests in two Tenaska-developed wind projects in USA. The transaction includes the purchase of indirect minority interests in Tenaska Clear Creek Wind, LLC, owner of 242 MW Tenaska Clear Creek Energy Center in Missouri, and Nobles 2 Power Partners, owner of the 250 MW Nobles 2 wind farm in Minnesota. Both projects are under construction and anticipated to be fully operational in 2020.

     

    Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.