Matrix Renewable signs US$92mn tax equity financing for Gaskell West 2 and Gaskell West 3 solar projects

Matrix Renewables has signed a US$92 million tax equity financing with an affiliate of Bank of America for the Gaskell West 2 and Gaskell West 3 solar photovoltaic projects in Kern County, California, USA. 

The solar projects with a combined capacity of 143 MW DC have an incorporated 80 MWh energy storage system. The solar farms have secured five long-term power purchase agreements with utilities and cities in California.

CohnReznick Capital served as an exclusive financial advisor and Norton Rose Fulbright acted as a legal advisor for Matrix Renewables. The project is expected to be operational before the end of 2022.