Enlight Renewable Energy has closed financing for the energy storage portion of its Atrisco Solar and Energy Storage project, located outside Albuquerque, N.M.
Financing for the solar portion of the project closed last December.
The project, spread across 1,700 acres, contains 364 MW of solar generation capacity and 1.2 GWh of battery storage. Costing $827 million to build, it is set to be financed by $290 million of term debt and $420 million of tax equity, with Enlight’s long-term equity investment amounting to $117 million.
As part of the close, Enlight through its subsidiary, Clenera Holdings, entered into a loan agreement with a consortium of eight banks led by HSBC, totaling $401 million to finance project construction. The loan will convert into a $185 million term loan from the same group of lenders and tax equity financing of $222 million provided by U.S. Bancorp Impact Finance upon the project’s COD.
The term loan is structured with a 20-year underlying amortization profile with a five-year mini perm, and is subject to an all-in interest rate.
Tax equity was provided by Bank of America. The project’s tax equity financing qualified for the Energy Community IRA adder due to a brownfield addition to the project.
Project construction was led by RES, and the battery energy storage system provided by Tesla. Atrisco has signed a 20-year busbar PPA agreement with Public Service Company of New Mexico covering both electricity production and energy storage.
“The Atrisco complex is Enlight’s flagship project in the United States, and today’s financial close is another important step in the completion of this project,” says Gilad Yavetz, CEO of Enlight.
“We look forward to the phased COD of Atrisco, expected to begin during this quarter, in which years of effort will finally come to fruition. Enlight is embarking on an ambitious and rapid growth plan in the U.S., which is set to become a major market for us in the coming years, complementing the large and growing capacity footprint we have built up in MENA and Europe. Atrisco represents another step of this major expansion.”
The project is currently in the commissioning phase leading up to partial COD, and is expected to reach full COD later this year.
The post Enlight Closes on Atrisco Energy Storage Project appeared first on Solar Industry.
The answer to the question at hand: I’m not sure.
Yet it certainly appears that this country has completely lost its appetite for the criminal insanity of today’s Republican party. We’re tired of the lies, the hate, the indifference to human suffering, the lawlessness, and most of all the utter humiliation our formerly great country receives on the world stage on a near-daily basis.
Compensating cop-beaters for the prison time that hundreds of judges handed down may appeal to a few of the most stupid and depraved Americans, but good luck trying to sell that to sane, decent people.
We have no interest in being slapped in face every minute for another four years.
If you look this up, you’ll see that it’s correct. Eisenhower was a fierce advocate of the following:
- Infrastructure, e.g., the Federal-Aid Highway Act of 1956, creating the 41,000-mile Interstate Highway System to improve national defense and commerce
- Social Programs, Social Security, minimum wage, the Department of Health, Education, and Welfare
- Fiscal Policy, lower taxes, a balanced budget, and reduced government regulation, aiming to limit federal intervention in local affairs
- Foreign Policy, nuclear deterrence and relying on the CIA for covert operations
- Civil Rights, desegregation of the military and the armed forces, support for the Brown v. Board of Education decision
Where the Republican Party Has Gone Since Eisenhower in the 1950s
My only problem with this is the U.S. Constitution, which clearly lays out the laws by which our elections will be conducted. I.e., it’s up to each of the 50 states to make and implement their own procedures.
Obviously, conspiracy theorists, at the direction of Newsmax and their peers, are convinced that there is a significant amount of voter fraud, but the fact is that there have been only a few dozen incidents of proven fraud out of the last one billion votes cast.
Yes, we could have an amendment could be proposed and passed into law that changes all of this, but until then, I’m going to support the U.S. Constitution, which has done right by the American people since its passage in 1789.
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