8minute Solar Energy divests 67 MW Lotus Solar Farm in the US to AllianzGI
8minute Solar Energy has sold the equity interests of the 67 megawatt-dc Lotus Solar Farm in Madera County, California to Allianz Global Investors.
The Lotus Solar Farm is being constructed on 375 acres of low-productivity former grazing land. The solar farm will produce enough energy for more than 12,000 local homes and businesses once complete and will reduce carbon emissions by approximately 48,000 metric tons each year. The project’s development and construction are also expected to create 300 peak union jobs in Madera County during construction. CIT and NORD LB are providing a construction loan, letter of credit and term loan facility for the project.
8minute has signed a 20-year Power Purchase Agreement with Southern California Edison for the more than 125,000,000 kWh produced annually when the project is complete.
Construction began in August 2019 and will be completed in May 2020. Signal Energy is providing the Engineering, Procurement, and Construction (EPC) services for Lotus. Key suppliers will include NEXTracker with its NX Horizon™ smart solar tracker and TMEIC with 14 of their Ninja 4200 central inverters.
Country updates
-
-
September 19, 2019
EnerSys enters agreement with Altor Fund II for NorthStar Battery acquisition
EnerSys, the global leader in stored energy solutions for industrial applications, has entered into an agreement to acquire all issued and outstanding shares of N Holding AB, the parent comp...
Read more -
September 19, 2019
Facebook seals 200 MW wind PPA from ARES and APEX's 525 MW Aviator Wind project in US
Ares Management Corporation’s Infrastructure and Power strategy and Apex Clean Energy has announced that Aviator Wind East, an approximately 200 MW portion of the 525 MW Aviator Wind project loc...
Read more -
September 19, 2019
NJR Midstream invests in MIRA's Leaf River Energy Center in the US
NJR Midstream has entered into an agreement to acquire Leaf River Energy Center, LLC from Macquarie Infrastructure Partners, which operates within the Macquarie Infrastructure and Real Assets (MIRA) d...
Read more -
September 18, 2019
Constellation secures PPA commitment from 175 MW solar farm in Virginia
Constellation, a part of Exelon Corp, has secured power purchase commitment for the 175 MW solar farm in Virginia from three off-takers. The company will sell power and renewable energy ce...
Read more -
September 18, 2019
Invenergy sells 80% of 300MW wind project in USA
WEC Energy Group has agreed to acquire an 80% ownership interest in 300 MW Thunderhead Wind Energy Center. The project is being developed by Invenergy in Antelope and Wheeler counties, Nebraska,...
Read more
