Arevon Energy has secured $1.1 billion in aggregate financing commitments for its Eland 2 solar-plus-storage project in Kern County, Calif.
The 374 MW solar project coupled with 150 MW of energy storage is under early-stage construction and is anticipated to come online in 2025. Eland 2, combined with the project’s first phase, Eland 1, collectively represent one of the largest power plants in the company’s portfolio.
“The Eland 2 financing is an amazing accomplishment after Eland 1 which achieved financial close in 2022,” says Arevon’s Daniel Murphy. Both projects are excellent examples of Arevon’s ability to execute on large, complex transactions. I’m proud of our team’s achievement and grateful to our valued partners as we continue to complete successful transactions in this increasingly intricate space.”
Under a long-term PPA with Southern California Public Power Authority, Eland 2 will provide 200 MWac of electricity to serve the power needs of Southern California. Solar generated by this project is enhanced by Tesla’s Megapack 2 XL battery system. San Diego-based SOLV Energy is the project’s EPC contractor.
Wells Fargo provided a $431 million tax equity commitment. Arevon obtained $654 million of debt financing including a construction-to-term loan, a tax equity bridge loan and letter of credit facilities. Canadian Imperial Bank of Commerce served as the administrative agent, coordinating lead arranger, green loan coordinator, and bookrunner. Other coordinating lead arrangers included BNP Paribas, CoBank, Commerzbank AG, Commonwealth Bank of Australia and National Bank of Canada. J.P. Morgan served as joint lead arranger, collateral and depositary agent. Amis, Patel & Brewer represented Arevon as sponsor counsel. Milbank served as lender counsel and Sheppard Mullin served as tax equity counsel.
The post Arevon Secures $1.1B Close for Eland 2 Solar-plus-Storage Project appeared first on Solar Industry.
Arevon Secures $1.1 Billion for Eland 2 Solar+Storage Project
I just came across the meme here, and I thought I’d react to it.
Let’s call these groups, from top to bottom, A, B, C, and D.
First, instead of joking around about C, let’s be clear: these are people who are dominated by hate, especially the tenets of white nationalism.
Then let’s add in group E, selfish pigs who are getting ever richer because of Trump’s corrupt policies.
Here’s my guess as to the percentage of each group, across the people eligible to vote in the United States:
A: 50
B: 5 (some of these people actually do exist)
C: 33 (Trump’s MAGA support base)
D: 10
E: 2
Now, a question that is often asked is: How is it possible that group E rules the country (and the world) with only 2% of the votes? Answer: They have almost all the money, and they couldn’t give a s*** about the wellbeing of others.
That this planet will slowly bake matters to most of us, but it doesn’t mean squat to a few.
Renewable Energy
Far-Right-wing Politician with No Scientific Training Says Climate Change Is a Hoax —- ZZzzzzzzz
This is Germany’s Alice Weidel, a politician from Germany’s right-wing extremist party, Alternative for Germany. She studied economics and finance in college.
Who could possibly care what she thinks about climate change?
Far-Right-wing Politician with No Scientific Training Says Climate Change Is a Hoax —- ZZzzzzzzz
Here’s “A thought for today,” from A-Word-A Day:
A musician must make music, an artist must paint, a poet must write, if he is to be ultimately at peace with himself. What one can be, one must be. – Abraham Maslow
Maslow is best known for his “hierarchical needs,” which I always thought was excellent. The statement here is a part of that theory; it’s what “self-actualization” means.
Incredibly powerful, IMO.
-
Climate Change8 months ago
Guest post: Why China is still building new coal – and when it might stop
-
Greenhouse Gases8 months ago
Guest post: Why China is still building new coal – and when it might stop
-
Greenhouse Gases2 years ago嘉宾来稿：满足中国增长的用电需求 光伏加储能“比新建煤电更实惠”
-
Climate Change2 years ago
Bill Discounting Climate Change in Florida’s Energy Policy Awaits DeSantis’ Approval
-
Climate Change2 years ago嘉宾来稿：满足中国增长的用电需求 光伏加储能“比新建煤电更实惠”
-
Climate Change Videos2 years ago
The toxic gas flares fuelling Nigeria’s climate change – BBC News
-
Renewable Energy5 months agoSending Progressive Philanthropist George Soros to Prison?
-
Carbon Footprint2 years agoUS SEC’s Climate Disclosure Rules Spur Renewed Interest in Carbon Credits