SB Energy has secured a combined $2.4 billion aimed at supporting communities with domestically produced renewable energy.
Working with J.P. Morgan, Bank of America, Morgan Stanley Renewables and Truist Bank, SB Energy closed approximately $800 million in tax equity. Working with MUFG, Mizuho Americas, ING, SMBC, CIBC, Fifth Third Bank and Société Générale, the company raised $450 million in term debt and $1.2 billion in construction debt to support a 1.3 GW portfolio of four utility-scale solar projects.
Three of the projects are also the first utility-scale projects in the U.S. to reach financial close with the Inflation Reduction Act’s “domestic content adder,” says the company.
To qualify for the domestic content adder, SB Energy is utilizing 1.1 million solar modules manufactured in Ohio by First Solar. Additionally, Nextracker is supplying trackers with recently expanded component providers in multiple U.S. states. All structural steel on these same projects will use domestically sourced steel from Texas and Georgia.
“The IRA’s domestic content and energy community incentives were designed to expand America’s manufacturing base and create good-paying jobs in communities that need them,” says SB Energy co-CEO Rich Hossfeld. “We are thrilled to be the first company to reach financial close on projects that utilize these adders with our partners J.P. Morgan Chase, Bank of America, Morgan Stanley Renewables and Truist Bank.”
“By partnering with leading tax equity investors and lenders on these latest financings, we are extending our track record of deploying renewable generation at scale,” adds SB Energy’s Gianluca Signorelli. “Moreover, by utilizing the IRA’s domestic content and energy community adders, we have created a blueprint for deploying clean infrastructure that advances America’s prosperity and wellbeing.”
Google is purchasing approximately 75% of the energy produced by these four projects to power its Texas data center presence.
The post SB Energy Secures $2.4 Billion for Domestic Energy Projects appeared first on Solar Industry.
Renewable Energy
How Should the Measles/Mumps/Rubella Vaccine Be Administered? Should You Ask a High School Baseball Coach?
There are so many things going wrong in this country simultaneously that it’s hard to list them all.
Here’s something that no one could have seen coming: (see short video here) crackpot politicians giving parents insane medical advice about how to care for their children.
If I told you that our country’s parents were making decisions on vaccinating their children based on information provided by figure skaters or lawn mower salesmen, you wouldn’t believe me.
But the case is actually worse; it’s coming from the White House.
In this short video on the bombing of ships leaving Venezuela, President Trump asserts that drug overdoses took like lives of more than 350,000 people last year, a figure that, according to the CDC, is actually 79,383.
In any case, the video fails to mention that executing people who have not been charged with and convicted of a crime is a violation of both domestic and international law.
Do Americans Approve of Our Country’s Execution of Innocent People?
Keep in mind that, in 2020, more than 70 million voters cast their ballots for Trump, who, though he is a pathological liar, is 100% trusted by his supporters. When Trump said the election was rigged, the vast majority of these folks believed him. Even today, more than five years later, there are still millions of people who believe there was rampant voter fraud in the election.
Now, is storming the Capitol and beating up/killing law enforcement personnel an acceptable solution? It wouldn’t be for you or me, or most people, but imagine you’re an uneducated white-supremacist MAGA guy, and your president is telling you to do whatever’s necessary to prevent the election from being certified.
These are people who were so desperate to hang Mike Pence that the vice president had to be escorted out of the Capitol building to a secret and secure location, so he didn’t end up at the end of a rope.
When asked about this, Trump replied, “Maybe he deserved it.” To anyone trying to make sense of this, remember that you’re dealing with a deeply disturbed individual, and many millions of truly pathetic people who believe his is an honest and effective servant of the American people. In congress, we have a couple of hundred of the most terrible butt-kissers imaginable, all clamoring to curry favor with him.
Leading scientists call for EPBC reforms to strengthen Great Barrier Reef protection
How Should the Measles/Mumps/Rubella Vaccine Be Administered? Should You Ask a High School Baseball Coach?
Do Americans Approve of Our Country’s Execution of Innocent People?
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