Arevon Energy and Blackstone Credit & Insurance announced the financial close for the 200 MW Condor Energy Storage Project, currently under construction in Grand Terrace, Calif.
The project is anticipated to start operations this year and is contracted under a 15-year agreement with Southern California Edison. Condor features Megapack 2 XL, Tesla’s utility-scale battery system. Tesla has been contracted to provide O&M services for the project. Rosendin Electric is the project’s EPC contractor. Arevon says it will own and operate the project on a long-term basis.
Blackstone’s preferred equity investment in Condor is structured to simplify the monetization of tax credits.
The financing includes a commitment from Stifel Financial to buy investment tax credits and is supported with a $164 million debt facility secured with coordinating lead arrangers CoBank ACB, Helaba and Sumitomo Mitsui Banking. The Bank of New York Mellon served as collateral and administrative agent. Arevon secured real estate financing from climate investment firm HASI related to the Condor Energy Storage Project land.
“Condor represents not only our commitment to developing assets that deliver grid resilience but also our team’s adeptness in navigating complex, hybrid financing arrangements,” says Arevon’s Daniel Murphy. “Along with our partners, we remain focused on pioneering climate finance solutions that promote a sustainable clean energy future.”
Stoel Rives represented Arevon as sponsor transaction counsel and CRC-IB served as sponsor tax equity advisors. Milbank served as the preferred equity counsel and Winston & Strawn served as lender counsel. Monarch Private Capital served as advisor to the tax credit purchaser, with Orrick, Herrington & Sutcliffe as counsel to Monarch. Paul Hastings served as counsel to the tax credit purchaser.
The post Arevon, Blackstone Credit & Insurance Close Financing for Condor Energy Storage Project appeared first on Solar Industry.
Arevon, Blackstone Close Financing for Condor Energy Storage Project
American workers who are facing agonizing and preventable deaths predominantly vote for the party that is condemning them to that horrible fate.
That’s just one of the many disgusting facets of today’s life in the U.S.
Oh my goodness! Is “Liz Churchill” right?
We hear all the time that Dr. Anthony Fauci, who served Americans’ health needs under seven presidents, created COVID-19 in a Chinese lab and deliberately inflicted it on U.S. citizens, killing millions. The anti-science right is cranking up the animus against the man, and now, tens of millions of Americans are desperate to have him sentenced to prison.
A few facts are presented below. What they seem to show is that whoever authored the meme here simply made up lies that would serve to undermine our scientific method and make all this crap fodder for the Fox News / MAGA crowd.
Unvaccinated individuals face a significantly higher risk of hospitalization and death from COVID-19 compared to vaccinated individuals. Historical and public health data consistently show that vaccines offer robust protection against the most severe outcomes of the virus. [1, 2, 3]
- Early Variant Spikes: During earlier waves like the Delta variant, the Centers for Disease Control and Prevention (CDC) reported that unvaccinated individuals were up to 29 times more likely to be hospitalized. [1]
- Severe Complications: Hospitalized unvaccinated patients are more likely to experience moderate-to-severe disease, spend more days in the ICU, and have a higher likelihood of complications. [1]
- Financial Burden: A study by the Peterson-KFF Health System Tracker noted that unvaccinated patients historically accounted for the vast majority of preventable COVID-19 health system costs due to lengthy, intensive hospital stays. [1]
- Elevated Death Rates: Data compiled by platforms like Our World in Data demonstrate a clear gap in mortality, with unvaccinated individuals dying at significantly higher rates per capita. [1]
Meet Reid Rasner (photo at left). He’s a MAGA Republican running for congress in Wyoming–that’s a good fit.
He faces three challenges, however:
1) He’s openly gay, a terrible fit for Wyoming,
2) His politics appeals only to the true idiot. While it’s true that voters there are not well-educated, they’re aware and alert. They’ve seen trickle-down economics fail consistently since the days of Roland Reagan, and they’ll be very hard to convince that democratic socialism as it’s implemented around the world makes the nation’s citizens poor, and
3) I hate to judge a book by its cover, but he looks like a dullard.
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