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BrightNight has closed on a $260 million tax-equity financing commitment, including deferred contributions, for the 300 MW Box Canyon Solar Project, jointly owned with Cordelio Power and located in Pinal County, Ariz.

J.P. Morgan, through one of its affiliates, and Capital One will provide the tax-equity financing for the project. The financing is structured as a partnership flip to monetize production tax credits.

BrightNight and Cordelio previously closed the project’s construction financing in May with Zions Bank, CIBC, RBC, NBC and SMTB.

The project represents the largest renewable energy procurement in the history of the Southwest Public Power Agency so far. Expected to become operational next year, this project is part of a 2 GW Arizona portfolio owned by BrightNight and Cordelio.

“We are delighted to partner with J.P. Morgan and Capital One to help the residents of Arizona meet their power needs and achieve their sustainability goals,” says BrightNight CEO Martin Hermann.

“With over 900,000 MWh of projected annual production, the Box Canyon Solar Project is a model of utility-scale renewable power. It will provide reliable, affordable clean energy to local communities, while creating long-term economic benefits, well-paying American jobs and strengthening the region’s energy security. We’re proud that this project will support Arizona’s clean energy transition and deliver value for decades to come”

Norton Rose Fulbright represented the sponsors in the transaction. Milbank represented the tax equity investors.

The post BrightNight Receives Financing from J.P. Morgan, Capital One for Arizona Project appeared first on Solar Industry.

BrightNight Receives Financing from J.P. Morgan, Capital One for Arizona Project

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Renewable Energy

Homeschooling

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Decent and intelligent people respect the rights of parents to homeschool their children, but there are two reasons for concern: a) socialization, failure to expose children to their peers, so that they may make friends and come to understand the norms of society, and b) the quality of the education itself.

Almost all homeschooling in the United States is conducted on the basis of a radical rightwing viewpoint, normally a blend of evangelical Christianity and Trumpism.

Homeschooling

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Renewable Energy

The Positive Effects We’ve Had on Others Are Profound, Whether We Know It or Not

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There’s a theory that most people underestimate the positive effects they’ve had on other people.

Yes, that’s the theme of “It’s a Wonderful Life,” but it’s also the core of the 1995 film “Mr. Holland’s Opus,” in which a music teacher who deemed that his life had been a failure because he never completed writing a great symphony, is gently and beautifully corrected. Please see below.

The Positive Effects We’ve Had on Others Are Profound, Whether We Know It or Not

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Renewable Energy Concepts Can’t Violate the Laws of Physics

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In the early days of 2GreenEnergy, my people and I were vigorously engaged in finding solid ideas in cleantech that needed funding in order to move forward.

I vividly remember a conversation with a guy in Maryland who was trying to explain the (ostensible) breakthrough that he and his team had made in hydrokinetics. When I was having trouble visualizing what we was talking about, he asked me to “think of it as a river in a box.”

“Oh!” I exclaimed. “You mean you take a box full of standing water, add energy to it get it moving, then extract that energy, leaving you with more energy that you added to it.”

“Exactly.”

I politely explained that the laws of physics, specifically the first and second laws of thermodynamics, make this impossible.

He wasn’t through, however, and insisted that, in his office, his people had constructed a “working model.”

Here’s where my tone descended into something less than 100% polite. I told him that he may think he has a working model, but he’s wrong; if he believes this, he’s ignorant; if he doesn’t, but is conducting this conversation anyway, he’s a fraud.

“But don’t you want to come see it?” he implored.

“No. Not only would not fly across the country to see whatever it is you claim to have built, I wouldn’t walk across the street to a “working model” of something that is theoretically impossible.”

I tell this story because the claim made at the upper left is essentially identical.  You’re pumping water up out of a stream, and then claiming to extract more energy when the water flows back into the stream.

Of course, social media today is rife with complete crap like this.  We’ve devolved to a point where defrauding money out of idiots is rapidly replacing baseball as our national pastime.

Renewable Energy Concepts Can’t Violate the Laws of Physics

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