Intersect Power LLC have began business operations for its Athos III photo voltaic undertaking positioned in Riverside County, Calif. The Athos III photo voltaic undertaking was constructed with American-made photo voltaic panels, batteries and metal piles. The Athos III photo voltaic undertaking (often known as Blythe Mesa Photo voltaic II) generates 224 MW AC/310 MWp of dependable photo voltaic vitality and options 448 MWh of co-located storage.
“This marks a significant milestone for the Intersect Energy workforce and our influence as a clear vitality developer, proprietor and operator,” says Intersect Energy CEO Sheldon Kimber. “Athos III demonstrates that Intersect continues to pioneer procurement requirements for our trade that dwell as much as the imaginative and prescient of the IRA. This undertaking is way more than a major new supply of unpolluted vitality for California’s vitality system; it’s additionally a case research in how the clear vitality trade can maximize our influence by prioritizing home provide chains and union labor to make sure the advantages of the clear vitality transition are felt by all Individuals.”
The Athos III photo voltaic undertaking is a part of Intersect Energy’s near-term portfolio totaling 2.2 GW of photo voltaic PV and 1.4 GWh of co-located storage. The rest of the portfolio will likely be operational in 2023.
Funding for the undertaking’s development and operations was secured as a part of the broader portfolio financing introduced final November, when Intersect Energy closed on portfolio stage time period debt, tax fairness and development financing commitments from monetary establishments and buyers. The portfolio time period debt was offered by HPS Funding Companions. The tax fairness was offered by Morgan Stanley Renewables Inc. Development debt was offered by Coordinating Lead Arrangers MUFG and Santander Company & Funding Banking, together with Cobank, KeyBanc Capital Markets, Helaba, and Nord LB as Joint Lead Arrangers.