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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

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Renewable Energy

Losing My Religion

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Some may find the claim at left compelling.

But consider Japan, China, the Czech Republic, Denmark, Norway, Sweden, and Finland that are almost completely atheist.  The other nations in Western Europe have also steadily moved away from religion.

Have they “lost their countries,” or is this a present-day scare tactic directed by fear-mongers, just as it has been since the Dark Ages?

Losing My Religion

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Renewable Energy

Is It Odd that Many Words in English are Supernumerary? Or Is that Superfluous? Extraneous? Unnecessary?

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Not at all.

English has an uncountable thousands of words it doesn’t need.  If you don’t believe me, check out “A Word a Day,” and learn the meanings of words that are completely useless.  The last two days brought us:

  • April 14: Flocculent (adjective: having a fluffy, woolly texture).
  • April 13: Impetrate (verb: to obtain by request or entreaty).

Maybe this impressed people a century ago, but if I wrote that a sheep was flocculent, I think you’d be rolling your eyes.

While some English speakers 400 years ago were discovering gravity, developing calculus, using newly minted telescopes to explore our solar system, and refining our understanding of logic as originally put forth by Aristotle, others were inventing words for groups of animals.

Sure, it’s useful to have words like “pack” (for dogs), “herd” (for cows and horses), “flock” (for birds), and perhaps a few others.  But what about a group of owls (a parliament), flamingos (a flamboyance), or ferrets (a business)?  And that’s just the beginning.

By contrast, Spanish has too few words, IMO.  For those interested, here are the 15+ possible meanings in English of the verb “llevar.” As someone who made an honest attempt to learn the language, I’d go into panic mode when someone would say something with any conjugation of that verb.  S***! Is he talking about wearing something, Giving someone a ride? Bringing something? Getting along well with someone?  Stealing something?

Is It Odd that Many Words in English are Supernumerary? Or Is that Superfluous? Extraneous? Unnecessary?

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Renewable Energy

The Universe Doesn’t Care About Us

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If you believe that a loving God has a plan for you, and is steadily guiding you towards happiness, then you disagree with the assertion here.

The rest of us are forced to admit that the universe is cooly indifferent to us and the outcome of our lives here on Earth.

This doesn’t mean, btw, that our lives are meaningless, but it does compel us to create our own meaning as we make our choices as we go along.

Another point to be made here is that there is no “galactic cavalry” that is going to come charging in, guns ablazing, to save us from the criminal insanity of the Trump administration.

The Universe Doesn’t Care About Us

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