"The truly transformative project ensures electricity reliability through the use of stand-alone and collocated energy storage."
"This financing allows us to complete the ongoing construction of the first phase of the Edwards Sanborn Solar Storage facility and help California meet its carbon reduction goals through the deployment of large-scale renewable energy," said Jim Pagano, Terra-Gen's CEO. Morgan is providing the tax equity commitment for the initial phase of the project, with Deutsche Bank leading the construction and term financing. The Edwards Sanborn Solar Storage facility is composed of 346 MWac (megawatts, alternating current) of solar modules and 1,501 MWh (megawatt hours) of battery storage.įinancing for the project includes $804 million senior secured credit facilities comprising a $400 million construction and term loan facility, a $328 million tax equity bridge facility, and a $76 million construction and revolving letter of credit facility. 2, 2021 /PRNewswire/ - Terra-Gen, LLC, a leading independent renewable energy provider, has completed financing on the initial phase of its Edwards Sanborn Solar Storage facility in Kern County, CA, a project that will produce clean energy for more than 158,000 homes and displace more than 307,000 tons of CO2 annually.