Intersect Power has closed on two separate transactions, totalling $837 million in financing commitments, for the construction and operation of three standalone BESS in Texas.
The transactions cover portfolio-level construction debt, tax equity and term debt financing with the company’s partners.
The Lumina I, Lumina II and Radian BESS are expected to be operational this year, with each project comprising 86 Megapacks, Tesla’s battery energy storage system. Lumina II and Radian will be operated by Autobidder, Tesla’s trading platform.
The company says each site will provide 320 MWh of battery storage with a two-hour duration.
“Batteries will be a vital part of the energy transition and are the perfect complement to the billions of dollars of solar generation that we are building in California and Texas,” says Sheldon Kimber, CEO and founder of Intersect Power.
“These assets should allow us to provide more consistent financial performance from a diversified fleet of renewable generation and storage, benefiting from increasing market volatility and periods of high prices while protecting us from periods of low market prices. This stability will be critical as we expect to triple the size of our portfolio over the next three years.”
Morgan Stanley is providing tax equity, and funds and accounts managed by HPS Investment Partners will be making construction debt and term debt investments. Deutsche Bank is partnering in the construction debt facility and providing the operational letters of credit to the projects.
Orrick, Herrington & Sutcliffe represented Intersect Power as lead counsel on all transactions, with CCA Capital advising the company on the tax equity transactions. Willkie Farr & Gallagher served as counsel to Morgan Stanley Renewables. Skadden, Arps, Slate, Meagher & Flom served as counsel to HPS and Deutsche Bank.
The post Intersect Secures $837M in Financing to Build 1 GWh Texas BESS appeared first on Solar Industry.
Intersect Secures $837M in Financing to Build 1 GWh Texas BESS
Obviously, this isn’t a real human being, though there are tens of millions with this perspective, so let’s treat him as if he were an actual guy.
No one’s going to hate you, because everyone with a brain supports border control and law enforcement.
You are, however, running the risk of being regarded as a moron. There are hundreds of points of domestic and international law, reason, and humanity that are being addressed every day along these lines.
Why don’t you go on keepin’ those doggies moving, and let the rest of us do our best to figure out how to treat immigrants legally and humanely?
The guy who sent me this writes Could not be any clearer than that.
We’ve all heard the adage, “If guns are outlawed, only outlaws will have guns.”
It has a nice ring to it, but it really doesn’t hold water in the real world, where counties with strict gun laws, e.g., Japan, England, and Australia have very low rates of violent crime.
Note: these countries don’t have an NRA, a fabulously wealthy lobbying organization that controls their lawmaking apparatus.
Moreover, outside the United States, it’s very hard to find a place where a potentially mentally unstable person can go into a store and walk out with a weapon of war, capable of killing 50+ people each minute.
-
Climate Change10 months ago
Guest post: Why China is still building new coal – and when it might stop
-
Greenhouse Gases10 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
-
Renewable Energy8 months agoSending Progressive Philanthropist George Soros to Prison?
-
Carbon Footprint2 years agoUS SEC’s Climate Disclosure Rules Spur Renewed Interest in Carbon Credits
-
Greenhouse Gases11 months ago
嘉宾来稿：探究火山喷发如何影响气候预测